Financial Crimes Enforcement Network


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Related to Financial Crimes Enforcement Network: Bank Secrecy Act

Financial Crimes Enforcement Network

A network of agencies under the direction of the U.S. Department of the Treasury that monitors transactions and helps enforce financial laws, especially those against money laundering. FinCEN examines required filings by companies, and tracks and investigates irregularities. FinCEN operates both inside and outside the United States, and relies upon information from law enforcement, financial institutions, and regulators.
References in periodicals archive ?
Attorney's Office for the Southern District of New York, the OCC, the Federal Reserve Board (the Fed) and the Financial Crimes Enforcement Network (FinCEN).
Attorney's Office for the Southern District of New York, the Office of the Comptroller of the Currency, the Federal Reserve Board and the Financial Crimes Enforcement Network. Under the resolution, the company will pay a total of $613M, reflecting the penalties assessed by each agency.
The report was published by the Financial Crimes Enforcement Network (FinCEN).
In just-released Regulatory Notice 17-40, FINRA notes the Treasury Department's Financial Crimes Enforcement Network's (FinCEN) adoption of a final rule on Customer Due Diligence Requirements for Financial Institutions (CDD Rule), which became effective July 11, 2016, and reminds broker-dealers that they must be in compliance with FINRA's Rule 3310 provisions by May 11, 2018.
Blanco became the new director of the Financial Crimes Enforcement Network (FinCEN).
WASHINGTON, June 29 (KUNA) -- The US Treasury Department's Financial Crimes Enforcement Network has found the Bank of Dandong in China to be a foreign financial institution of primary money-laundering concern under section 311 of the USA PATRIOT Act, Treasury Secretary Steve Mnuchin said on Thursday.
The Financial Crimes Enforcement Network today proposed requiring non-federally insured credit unions to comply with the same anti-money laundering rules as federally insured financial institutions.
"Since the bank's license has been revoked and the decision of Financial Crimes Enforcement Network was issued, expenses have to be reduced to a minimum," the source familiar with the matter said.
The Financial Crimes Enforcement Network (FinCEN), for example, has recently clarified that Bitcoin exchanges and payment processors are subject to the BSA; issued guidance to the gaming industry; and is working on proposals to expand the BSA to commodities hedge funds, credit card companies and check cashers.
Tanzanian-based FBME Bank Ltd, which has offices in Cyprus, was this week named by the US Treasury Financial Crimes Enforcement Network (FinCEN) as a "foreign financial institution of primary money laundering concern".
At the meeting the NAMLC delegation highlighted the workshops and trainings conducted jointly with Financial Crimes Enforcement Network (FinCEN) -- FIU of USA and others on AML/CFT for all stakeholders including on capacity building for the South East Asian Financial Intelligence Units (FIUs), which reflected UAE's commitment to international cooperation on matters of global concern, the central bank release said.
Mortgage loan fraud accounted for about 9 percent of all suspicious activity reports from banks and thrifts in the third quarter of 2010, the same percentage as the third quarter of 2009, the Treasury Department's Financial Crimes Enforcement Network reported Jan.
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