FinCEN Exchange in the Press
04/09/2025
WASHINGTON—This week, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), in collaboration with the Texas Department of Banking, held two informational webinars regarding the U.S. Southwest Border Geographic Targeting Order (GTO) with money services businesses (MSBs) and related trade groups, state regulators, and law enforcement agencies. These webinars, held as part of the FinCEN Exchange program, brought together public and private sector representatives to answer questions and discuss topics such as drug trafficking through the southwest border, the GTO’s requirements, and Currency Transaction Report (CTR) filing instructions.
04/02/2025
WASHINGTON—Today, U.S. Secretary of the Treasury Scott Bessent led a public-private partnership event with 16 systemically important global financial institutions and federal law enforcement agencies, focused on denying Iran access to the global financial system. This event was the first in FinCEN’s “Iran Maximum Pressure and Counter Terrorism” (or IMPACT) Exchange series. The event focused on Iran’s sprawling global oil and “shadow banking” networks.
12/12/2024
Event Marks Culmination of Year-Long, Nationwide Public-Private Effort to Deepen Collaboration in the Fight Against Illicit Opioids
VIENNA, Va.—This week, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), in partnership with Treasury’s Internal Revenue Service – Criminal Investigation (CI), held the final planned event of its year-long Promoting Regional Outreach to Educate Communities on the Threat of Fentanyl (PROTECT) series of the FinCEN Exchange program.
12/03/2024
PHILADELPHIA—Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), in partnership with Treasury’s Internal Revenue Service - Criminal Investigation (CI), held the ninth event of its Promoting Regional Outreach to Educate Communities on the Threat of Fentanyl (PROTECT) series of the FinCEN Exchange program. The event brought together public and private sector representatives in the Philadelphia area to discuss ways to deepen collaboration against the illicit trafficking of fentanyl, which continues to threaten the nation’s security, economy, communities, and families. Just last month, the U.S. Attorney’s Office for the Eastern District of Pennsylvania announced the sentencing of an individual to federal prison for charges related to the trafficking of fentanyl and other narcotics.
11/12/2024
EL PASO, Texas—Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), in partnership with Treasury’s Internal Revenue Service - Criminal Investigation (CI), held the eighth event of its Promoting Regional Outreach to Educate Communities on the Threat of Fentanyl (PROTECT) series of the FinCEN Exchange program. The event brought together public and private sector representatives in the area surrounding El Paso, Texas to discuss ways to deepen collaboration against the illicit trafficking of fentanyl into the United States. Financial institutions briefed on emerging trends and typologies they have observed regarding fentanyl-related money laundering, federal law enforcement discussed the threat that illegal fentanyl trafficking poses to the U.S. Southern border, and FinCEN presented on precursor chemicals involved in fentanyl-related illicit finance.
10/16/2024
CHARLOTTE, N.C.—Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), in partnership with Treasury’s Internal Revenue Service - Criminal Investigation (CI), held the seventh of ten planned events in 2024 as part of its Promoting Regional Outreach to Educate Communities on the Threat of Fentanyl (PROTECT) series of the FinCEN Exchange program, first announced in May. The event brought together representatives from the public and private sectors in the Charlotte, North Carolina area to discuss ways to deepen collaboration against the illicit trafficking of fentanyl into the United States. To date, FinCEN and CI have co-hosted PROTECT events in Boston, MA; Tucson, AZ; Miami, FL; Portland, OR; Denver, CO; and New York, NY.
09/05/2024
Treasury Convenes Public and Private Sectors in New York City to Discuss Combating Illicit Fentanyl
NEW YORK—Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), in partnership with Treasury’s Internal Revenue Service Criminal Investigation (CI), held the sixth of ten planned events in 2024 as part of its Promoting Regional Outreach to Educate Communities on the Threat of Fentanyl (PROTECT) series of the FinCEN Exchange program, first announced in May. These information exchange sessions bring together public and private sector participants—particularly law enforcement and the financial sector—to discuss ways to deepen collaboration in the fight against the financial crime threats that devastate communities and undermine the integrity of the global financial system. During today’s event, Treasury’s Acting Under Secretary for Terrorism and Financial Intelligence, Bradley T. Smith, and CI Chief, Guy Ficco, addressed the achievements of the PROTECT series of FinCEN Exchanges and outlined the goals for the remaining sessions.
08/26/2024
WASHINGTON—During Overdose Awareness Week as the nation honors and remembers loved ones lost to the drug overdose epidemic, the Financial Crimes Enforcement Network (FinCEN) reminds financial institutions to monitor for and report suspicious transactional activity related to the illicit fentanyl supply chain and the trafficking of illicit fentanyl and other synthetic opioids. FinCEN continues its efforts to marshal resources and expertise to combat the trafficking of illicit fentanyl through its participation in the Department of the Treasury’s Counter-Fentanyl Strike Force.
07/17/2024
WASHINGTON—Earlier this week, Financial Crimes Enforcement Network (FinCEN) officials traveled to Miami, Florida for two events that brought together the public and private sectors for discussions on ways to deepen collaboration against the financial crime threats that devastate communities and undermine the integrity of the global financial system. The events—known as FinCEN Exchange sessions—further FinCEN’s commitment to encouraging the secure sharing of information across the nation by convening a range of financial institutions, law enforcement agencies, and the Department of the Treasury. The events included a FinCEN Exchange session that is part of FinCEN’s “Promoting Regional Outreach to Educate Communities on the Threat of Fentanyl” (PROTECT) series of FinCEN Exchange events that will be held in U.S. cities that are highly impacted by the opioid epidemic as part of the Treasury Department’s Counter-Fentanyl Strike Force.
06/13/2024
TUCSON and PHOENIX, Ariz.—On June 11 and 12, Financial Crimes Enforcement Network (FinCEN) Director Andrea Gacki and senior FinCEN leaders traveled to Arizona where they participated in two beneficial ownership reporting outreach events and led a counter-fentanyl FinCEN Exchange.
Over the last two days, Director Gacki participated in beneficial ownership outreach events in Tucson and Phoenix to engage with small business owners and other key stakeholders about these new reporting requirements. Under the Corporate Transparency Act—a bipartisan law enacted to curb illicit finance—many companies are now required to report information to FinCEN about who ultimately owns or controls them. At both events, Director Gacki expressed her gratitude to Senator Kyrsten Sinema’s office for their assistance in coordinating these opportunities to connect with Arizonans about these important requirements that will make it harder for criminals to operate through anonymous shell companies. To find out more about the reporting process, visit https://www.fincen.gov/boi.
05/20/2024
In Boston, Treasury Launches New Public-Private FinCEN Exchange Series to Fight Fentanyl Trafficking
PROTECT FinCEN Exchange sessions set to promote public-private collaboration against illicit financial activity tied to the opioid trade
BOSTON—Today, as part of the Treasury Department’s Counter-Fentanyl Strike Force, the Financial Crimes Enforcement Network (FinCEN), in partnership with IRS Criminal Investigation (CI), announced a new initiative to combat the illicit trafficking of fentanyl into the United States. The “Promoting Regional Outreach to Educate Communities on the Threat of Fentanyl” (or PROTECT) series of FinCEN Exchange sessions will be held through the remainder of 2024 in U.S. cities that are highly impacted by the opioid epidemic. The series is specifically designed to work with regional and local banks who are deeply connected to their communities and offer unique perspectives on the opioid crisis, and will focus on how law enforcement can best support their efforts to monitor activity that may be tied to the illicit trafficking of fentanyl. At these exchanges, federal officials brief on information critical to tracking these illicit financial flows, including typologies and red-flag indicators of fentanyl-related activity, and discuss what types of information are particularly valuable when financial institutions report suspicious activity.
02/22/2024
SAN JUAN, Puerto Rico—Andrea Gacki, Director of the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN), traveled to Puerto Rico from February 20-22 to highlight collaborative efforts to combat public corruption, fraud, and drug trafficking. Director Gacki hosted the first FinCEN Exchange in Puerto Rico, addressed [link to remarks] the 20th Annual Puerto Rico Bankers Association Symposium of Anti-Money Laundering, and met with Puerto Rican officials to discuss illicit finance threats.
02/05/2024
LOS ANGELES—Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) convened a FinCEN Exchange—a voluntary public-private partnership—to share strategic and operational information to combat illicit financial networks that enable fentanyl trafficking. In addition to other lines of effort, the Exchange supports Treasury’s Counter-Fentanyl Strike Force, which launched in December 2023 to bring together personnel, expertise, intelligence, and resources across key Treasury offices to combat the flow of deadly fentanyl into communities throughout the United States. It is the third fentanyl-related FinCEN Exchange in a series specifically aimed at engaging with regional financial institutions across the United States.
11/21/2023
WASHINGTON—On November 16, the Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control, along with the Department of Commerce’s Bureau of Industry and Security (BIS), co-hosted a virtual FinCEN Exchange to discuss attempts by Russia to evade export controls. The Exchange included representatives from small- to mid-size financial institutions, law enforcement, and government agencies.
11/06/2023
READOUT: FinCEN Hosts Public-Private Dialogue on Cyber-Related Terrorism Financing
WASHINGTON—On November 2, the Financial Crimes Enforcement Network (FinCEN) hosted a FinCEN Exchange focused on the threat posed by the illicit use of convertible virtual currency in light of Hamas’ brutal terrorist attacks in Israel and the critical role the financial industry plays in detecting terrorism financing. The Exchange included presentations by FinCEN and Federal law enforcement agencies, followed by discussions on information sharing mechanisms and observations related to terrorism financing in a dialogue involving U.S. financial institutions, technology, and social media companies.
08/31/2023
READOUT: FinCEN Hosts Public-Private Dialogue on Countering the DPRK's Illicit Cyber Activities
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) hosted a FinCEN Exchange last week focused on countering the abuse of the digital ecosystem by the Democratic People’s Republic of Korea (DPRK). The DPRK continues to use, steal, and launder virtual assets in order to fund its illicit weapons programs. The proliferation of cyber events and cyber-enabled crime instigated by the DPRK represents a significant threat to the U.S. financial system.
08/08/2023
CINCINNATI—Financial Crimes Enforcement Network (FinCEN) Acting Director Himamauli Das joined Treasury Under Secretary for Terrorism and Financial Intelligence (TFI) Brian Nelson in traveling to Kentucky and Ohio this week to highlight FinCEN’s efforts to combat fraud and illegal fentanyl trafficking, as well as its ongoing work to implement beneficial ownership information reporting requirements.
07/12/2023
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) convened a FinCEN Exchange today in San Antonio, Texas, focused on combating illicit financial transactions related to fentanyl trafficking and human smuggling. The session reinforced the Department of the Treasury’s use of public-private partnerships to combat the illicit trade in fentanyl and to deter the destructive effects of human smuggling.
11/16/2021
FinCEN Holds FinCEN Exchange on Environmental Crimes and Related Financial Activity
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today convened a virtual FinCEN Exchange focused on identifying and combatting illicit financial flows associated with environmental crimes and related money laundering.
11/09/2021
WASHINGTON—Today, the Financial Crimes Enforcement Network (FinCEN) convened a virtual FinCEN Exchange with members of the financial industry and law enforcement to discuss FinCEN’s analysis of suspicious activity reporting (SAR) with a transactional nexus to Alabama, Florida,…
8/10/2021
FinCEN Holds Second Virtual FinCEN Exchange on Ransomware
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today convened a virtual FinCEN Exchange with representatives from financial institutions, technology firms, third-party service providers, and federal government agencies to discuss ongoing concerns regarding…
7/15/2021
Second FinCEN Exchange on Ransomware to Take Place in August
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced it will convene a FinCEN Exchange in August 2021 with representatives from financial institutions, other key industry stakeholders, and federal government agencies to discuss ongoing…
3/23/2021
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today convened a virtual FinCEN Exchange event to discuss Bank Secrecy Act (BSA) filing statistics for low-dollar, voluntarily-filed suspicious activity reports (SARs) that contain a transaction nexus to Arizona, New Mexico, Texas,…
11/12/2020
FinCEN Holds Virtual FinCEN Exchange on Ransomware
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today convened a virtual FinCEN Exchange with representatives from financial institutions, technology firms, third-party service providers, and federal government agencies to discuss growing concerns regarding…
9/24/2019
Prepared Remarks of FinCEN Director Kenneth A. Blanco, delivered at the Federal … like to thank the FedID Planning Committee for inviting FinCEN to take part in this year’s event. …Earlier this year in July, we held a FinCEN Exchange on business email compromise (BEC) fraud schemes …
7/16/2019
FinCEN Exchange Forum Counters Business Email Compromise Scams
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) today announced new efforts to curtail and impede Business Email Compromise (BEC) scammers and other criminals who profit from their schemes. Email compromise fraud schemes generally entail criminal attempts to compromise the email…
6/12/2019
Prepared Remarks of FinCEN Director Blanco at the NYU Law Program on Corporate … Financial Crimes Enforcement Network (FinCEN) NYU Law Program on Corporate … We established the FinCEN Exchange, where we convene law enforcement and different …
5/3/2019
FinCEN Exchange in New York City Focuses on Virtual Currency
WASHINGTON—On May 3, 2019 representatives from virtual currency money transmitters and other money services businesses, third-party service providers, federal government agencies, a federal task force, and several depository institutions gathered at a FinCEN Exchange session in New York City to discuss the threats and....
11/29/2018
Testimony of FinCEN Director Kenneth A. Blanco before the Senate … on behalf of the Financial Crimes Enforcement Network (FinCEN). FinCEN’s mission is to safeguard the financial … activity. One way we accomplish this is through FinCEN Exchange. FinCEN Exchange brings financial institutions …
12/4/2017
FinCEN Launches “FinCEN Exchange” to Enhance Public-Private Information Sharing
"FinCEN Launches “FinCEN Exchange” to Enhance Public-Private Information … methods and evolving threats we face today,” said Sigal P. Mandelker, Treasury Under Secretary for Terrorism …