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FinCEN Year In Review

Financial Crimes Enforcement Network (FinCEN) Year in Review for FY 2025

The mission of the Financial Crimes Enforcement Network (FinCEN) is to safeguard the financial system from illicit activity, counter money laundering and the financing of terrorism, and promote national security through strategic use of financial authorities and the collection, analysis, and dissemination of financial intelligence.

In FY25, FinCEN leveraged its tools to advance the Administration’s highest national security and law enforcement priorities and protect the lives and livelihoods of the American people, including countering cartels and drug trafficking; imposing maximum pressure on Iran; fighting child sexual exploitation; and combating fraud. In parallel, FinCEN has also worked to modernize the U.S. anti-money laundering and countering the financing of terrorism (AML/CFT) regime and support the Department of the Treasury’s efforts to promote the responsible growth and use of digital assets.

Key FY25 Accomplishments

Efficiency
$10B
Saved due to de-regulatory actions
Effectiveness
+90%
Value Bank Secrecy Act information of surveyed law enforcement, intelligence, and other partners
Engagement
596
Events to engage and train key stakeholders on AML/CFT topics
Impact
$991M
Returned to victims of fraud reported to the Rapid Response Program since 2015

Here are the FinCEN Year In Review documents

Glossary

Bank Secrecy Act (BSA)

The Currency and Foreign Transactions Reporting Act of 1970, as amended by the USA PATRIOT Act of 2001, the Anti-Money Laundering Act of 2020, and other statutes—a legislative framework that is commonly referred to as the “Bank Secrecy Act” (BSA)—authorizes the Secretary of the Treasury to impose reporting and other requirements on financial institutions and other businesses to help detect and prevent money laundering. Specifically, the regulations implementing the BSA require financial institutions to, among other things, keep records of cash purchases of negotiable instruments, file reports of cash transactions exceeding $10,000 (daily aggregate amount), and to report suspicious activity that might signify money laundering, tax evasion, or other criminal activities. The BSA is sometimes referred to as an "anti-money laundering" (AML) law or jointly as “BSA/AML,” and is codified at 12 U.S.C. 1829b, 12 U.S.C. 1951-1960, 31 U.S.C. 5311-5314, 5316-5336, and includes notes thereto.

BSA Reports (examples)

Suspicious Activity Reports (SARs)

Certain financial institutions are required to file SARs for certain activity. For example, banks are required to file SARs in the following circumstances:

  • Transactions conducted or attempted by, at, or through the financial institution and aggregating $5,000 or more, if the bank knows, suspects, or has reason to suspect that the transaction: Involves potential money laundering or other illegal activity (e.g., terrorism financing);
  • Is designed to evade the BSA or its implementing regulations; or
  • Has no business or apparent lawful purpose or is not the type of transaction that the particular customer would normally be expected to engage in, and the bank knows of no reasonable explanation for the transaction after examining the available facts, including the background and possible purpose of the transaction.

Currency Transaction Reports (CTRs)

Financial institutions are required to report on CTRs currency (cash or coin) transactions over $10,000 conducted by, or on behalf of, one person, as well as multiple currency transactions that aggregate to be over $10,000 in a single day.

Currency and Other Monetary Instrument Reports (CMIRs)

Travelers and currency transporters are required to file a CMIR when entering or departing or shipping or receiving from/to the United States an aggregate amount of currency or other monetary instruments exceeding $10,000.

Reports of Cash Payments Over $10,000 in a Trade or Business (Form 8300)

A trade or business must file Form 8300 if it receives more than $10,000 in cash in a single transaction or in related transactions.

Reports of Foreign Bank and Financial Accounts (FBARs)

A United States person that has a financial interest in or signature authority over foreign financial accounts must file an FBAR if the aggregate value of the foreign financial accounts exceeds $10,000 at any time during the calendar year.

BSA Search 

BSA Search is a web-based, secure tool designed to facilitate authorized users’ ability to access and analyze BSA data. BSA Search also allows users to apply filters and narrow search results; utilize enhanced data; and import lists of data (e.g., names, identification numbers, and addresses).

Egmont Group

The Egmont Group is an international network of Financial Intelligence Units (FIUs) designed to improve communication, information sharing, and training coordination amongst its FIU members. The Egmont Group supports its FIU members by helping them to expand and systematize the exchange of financial intelligence and information, improve expertise and capabilities of personnel, and enable secure communication with one another.

Financial Institution Advisory Program 

FinCEN, through its Financial Institution Advisory Program, issues advisories to financial institutions concerning money laundering or terrorist financing threats and vulnerabilities for the purpose of enabling financial institutions to guard against such threats. Advisories often contain illicit activity typologies, red flags that facilitate monitoring, and guidance on complying with FinCEN regulations to address those threats and vulnerabilities.

Advisories

A comprehensive overview of an illicit finance threat, often related to broader national security issues. FinCEN began issuing advisories in 1996.

Alerts

A targeted description of a time-sensitive scheme or threat facing U.S. financial institutions. FinCEN began issuing alerts in 2020, initially to raise immediate awareness of a convertible virtual currency scheme.

Notices

A more narrowly focused and targeted summary of a specific illicit finance scheme or threat that is either emerging or, conversely, particularly prevalent but which could be prevented or mitigated by U.S. financial institutions with greater awareness. FinCEN began issuing notices in 2020, initially to address the onset of the COVID-19 Pandemic.

Financial Trend Analysis (FTA)

FinCEN periodically publishes FTAs describing threat pattern and trend information derived from BSA filings. These reports highlight the value of information filed by financial institutions in accordance with the BSA and are issued pursuant to section 6206 of the Anti-Money Laundering Act of 2020.

FinCEN Exchange

FinCEN Exchange is a voluntary public-private information-sharing partnership among law enforcement agencies, national security agencies, financial institutions, other relevant private sector entities, and FinCEN to effectively and efficiently combat money laundering, terrorism financing, organized crime and other financial crimes; protect the financial system from illicit use; and promote national security. The objective of FinCEN Exchange is to develop, deliver, and sustain innovative public-private information sharing in order to enable the private sector to better identify risks and provide FinCEN and law enforcement with critical information to disrupt money laundering, terrorism financing, and other financial crimes. Section 6103 of the Anti-Money Laundering Act of 2020 (AMLA), by amending the BSA, formally codified the FinCEN Exchange as a statutory program. FinCEN operates FinCEN Exchange consistent with all relevant legal authorities.

Rapid Response Program (RRP)

Through the RRP, FinCEN helps victims and their financial institutions recover funds stolen as the result of certain cyber-enabled financial crime schemes, including business e-mail compromise. This RRP is a partnership among FinCEN, U.S. law enforcement (including the FBI, the U.S. Secret Service, Homeland Security Investigations, and the U.S. Postal Inspection Service), and foreign partner agencies that, like FinCEN, are the financial intelligent units of their respective jurisdictions. FinCEN uses its authority to share financial intelligence rapidly with counterpart FIUs and encourages foreign authorities to interdict the fraudulent transactions, freeze funds, and stop and recall payments using their authorities under their own respective legal and regulatory frameworks.

Spontaneous Disclosures

The voluntary sharing of information related to suspected criminal activity from an FIU with another FIU (or more than one FIU) that is a party to a mutual sharing agreement, such as FIUs that are members of Egmont, even in the absence of a formal request and where the receiving FIU may be entirely unaware of the information’s existence. The primary objective is to promote the proactive and voluntary exchange of information in criminal matters among the jurisdictions.