October 2011

Good afternoon. I appreciate the opportunity to speak with you all today about the work we are doing at the Financial Crimes Enforcement Network – known as FinCEN. I know it was six years ago that my predecessor, Bill Fox, spoke before this conference, so I am happy to be in Nebraska representing FinCEN again.

FinCEN: Our Story (An Interactive PDF)

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FinCEN: Our Story (An Interactive PDF)

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FinCEN Supports National Protect Your Identity Week

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FinCEN Proposes Reporting Requirement of International Transport of Prepaid Access Products at U.S. Borders

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Notice Concerning RMSB Form

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REMARKS OF JAMES H. FREIS, JR. DIRECTOR FINANCIAL CRIMES ENFORCEMENT NETWORK

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This past year has been a busy one in the money services business (MSB) area. As you may recall when we last met, I provided an overview of what FinCEN was
trying to do with our efforts to bring a more comprehensive Bank Secrecy Act/Anti-Money Laundering (BSA/AML) regime to the prepaid access industry.¹I’m pleased to be able to say that we have since brought those ideas to fruition. Thus, today, I’d like to spend my time updating you on a number of regulatory initiatives since last September, as well as look forward to discuss some of our ongoing work in this area.