June 2016

Regulations

• The Freedom of Information Act (as amended by Public Law No. 110-175, 121 Stat.

Treasury is issuing today a final rule concerning the application of the Bank Secrecy Act ("BSA") to those non-bank financial institutions called "money services businesses" (or "MSBs"). The rule would (i) revise the definition of certain businesses for BSA purposes, and (ii) require MSBs to register with the Department of the Treasury.

1. All States/Territories
2. All States
3. All Territories
4. Foreign

With few exceptions, criminals are motivated by one thing-profit. Greed drives the criminal, and the end result is that illegally-gained money must be introduced into the nation's legitimate financial systems. Money laundering involves disguising financial assets so they can be used without detection of the illegal activity that produced them. Through money laundering, the criminal transforms the monetary proceeds derived from criminal activity into funds with an apparently legal source.

The MSB Registration Web site contains entities that have registered as Money Services Businesses (MSBs) pursuant to the Bank Secrecy Act (BSA) regulations at 31 CFR 1022.380(a)-(f), administered by the Financial Crimes Enforcement Network (FinCEN).

The Web site, which is current as January 27, 2012, contains data on 39,713 registered MSBs. This is an increase of 1,080 MSB registrations from the December 7, 2011 total of 38,633 .

What is Money Laundering?
Short summary of the money laundering problem and process. (For the statutory definition of the crime of money laundering, see Statutes/Regulations.)

Mission of FinCEN
Concise statement of the mission of the Financial Crimes Enforcement Network (FinCEN).

• FinCEN and OCC Assess Civil Money Penalties Against Union Bank of California 
  (10/17/2007) HTML | PDF
• Civil money penalties assessed against American Express Bank International and American Express Travel Related Services Company, Inc.
  (8/6/2007) HTML | PDF

The Financial Crimes Enforcement Network (FinCEN) has engaged in a variety of initiatives to ensure that its mission is carried out efficiently and effectively. In addition to collecting, analyzing, securing, and disseminating FinCEN data to its law enforcement and regulatory partners, FinCEN itself is a financial institution regulator.

What is the BSA IT Modernization Program?