FinCEN
FinCENAlso called financial Crimes Enforcement Network
FinCEN, the Financial Crimes Enforcement Network, is a bureau of the US Treasury that administers the Bank Secrecy Act. It writes US anti-money laundering regulations, collects suspicious activity reports and currency transaction reports, and acts as the national financial intelligence unit. It can issue civil penalties and special measures against foreign institutions and jurisdictions.
How it works
Banks, broker-dealers, money services businesses, casinos and other covered firms file reports with FinCEN through its electronic system. FinCEN analyses the data and shares it with law enforcement and other agencies. It issues rules, guidance, advisories on typologies and 314(a) requests asking institutions to search for named subjects. Day-to-day examination of banks is delegated to the federal banking regulators.
FinCEN sets the US AML rulebook that every covered institution builds its programme around. Its advisories shape red flags used in monitoring, and its enforcement actions set penalty benchmarks. It administers the Corporate Transparency Act, where an August 2026 final rule confirmed that US companies no longer report beneficial ownership. Its rulemaking under the AML Act 2020 continues to reshape programme requirements.
The rules
Requires recordkeeping and reporting, including currency transaction and suspicious activity reports, and AML programmes, administered by FinCEN.
US banks and other financial institutionsModernised the BSA, expanded FinCEN's powers and whistleblower provisions, and included the Corporate Transparency Act.
US financial institutions and FinCENFinalised the March 2025 interim rule, keeping US companies and US persons exempt from beneficial ownership reporting under the Corporate Transparency Act.
Domestic and foreign reporting companiesCommon questions
Is FinCEN a law enforcement agency?
No. FinCEN is a Treasury bureau and the US financial intelligence unit. It collects and analyses financial data and supports law enforcement, but it does not make arrests. It does have civil enforcement powers under the Bank Secrecy Act.
Who examines banks for FinCEN rules?
FinCEN delegates BSA examination of banks to federal banking agencies such as the OCC, the Federal Reserve and the FDIC. The SEC and FINRA examine broker-dealers, and the IRS examines many non-bank institutions.
What reports are filed with FinCEN?
Main filings include suspicious activity reports, currency transaction reports for cash over $10,000, reports of foreign bank and financial accounts, and reports of cash payments over $10,000 received in a trade or business.
What is a 314(a) request?
It is a FinCEN request, issued under section 314(a) of the USA PATRIOT Act, asking financial institutions to search their records for accounts or transactions linked to named subjects of law enforcement investigations.
