Financial Crimes Enforcement Network (FinCEN)
The Financial Crimes Enforcement Network (FinCEN) is a bureau of the US Department of the Treasury that is responsible for implementing and enforcing the Bank Secrecy Act (BSA) and other anti-money laundering (AML) and counter-terrorism financing (CTF) laws and regulations.
FinCEN was established in 1990 and is headquartered in Vienna, Virginia. It plays a key role in the US government's efforts to combat financial crimes, such as money laundering, terrorist financing, and financial fraud.
FinCEN works closely with other federal agencies, state and local law enforcement, and financial institutions to identify, prevent, and prosecute financial crimes. It also issues guidance and advisories to financial institutions to help them comply with AML and CTF laws and regulations and to protect the integrity of the financial system.
FinCEN has the authority to impose civil and criminal penalties on financial institutions and individuals that fail to comply with BSA and other AML and CTF laws and regulations. It also has the authority to require financial institutions to report suspicious activity and to maintain records of certain financial transactions.
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