Financial Crimes Enforcement Network

The U.S. Financial Crimes Enforcement Network (FinCEN) is a department under the U.S. Department of the Treasury. Its mission is to collect and analyze information about suspicious financial activities to combat U.S. domestic and international money laundering, terrorist financing and other Financial crimes. FinCEN was established on April 25, 1990 by order of the U.S. Secretary of the Treasury and became a bureau-level unit under the Department of the Treasury.

FinCEN’s functions and roles mainly include the following aspects:

Develop and enforce anti-money laundering and counter-terrorism financing regulations and standards, including the Bank Secrecy Act and other related laws.

Collect, maintain and analyze financial data such as suspicious transactions, currency transportation, foreign bank accounts reported by financial institutions, businesses and individuals to uncover potential financial crime clues.

Works with other federal, state, local and international law enforcement, regulatory and intelligence agencies to share financial intelligence and assist in the investigation and prosecution of financial crimes.

Provide education, training, consultation and guidance to the public, financial institutions, policymakers, etc. to improve awareness and capabilities of anti-money laundering and counter-terrorism financing.

Utilize advanced technology and innovative methods to continuously improve the collection, management and analysis of financial data and improve financial security and transparency.

In short, FINRA is an important agency responsible for combating financial crimes. It has made important contributions to maintaining financial stability and security in the United States and around the world.