Financial Crimes Enforcement Network

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Group.png Financial Crimes Enforcement Network   WebsiteRdf-icon.png
US-FinancialCrimesEnforcementNetwork-Seal.svg
Parent organizationUS/Department of the Treasury
HeadquartersVienna, Virginia
Interestsmoney laundering, terrorist financing, financial crimes

Official Narrative

The Financial Crimes Enforcement Network (FinCEN) is a bureau of the United States Department of the Treasury that collects and analyzes information about financial transactions in order to combat domestic and international money laundering, terrorist financing and other financial crimes.

History

In 2001, the USA PATRIOT Act required the US Secretary of the Treasury, Paul O'Neill, to create a secure network for the transmission of information to enforce the relevant regulations. FinCEN’s regulations under Section 314(a) enable federal law enforcement agencies, through FinCEN, to reach out to more than 45,000 points of contact at more than 27,000 financial institutions to locate accounts and transactions of persons that may be involved in terrorist financing and/or money laundering. A web interface allows the person(s) designated in §314(a)(3)(A) to register and transmit information to FinCEN.[citation needed]

Structure

FinCEN organization.jpg


References


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