WASHINGTON—Financial Crimes Enforcement Network (FinCEN) Acting Director Michael Mosier today announced FinCEN’s delivery of two key requirements pursuant to the Anti-Money Laundering of 2020 (the “AML Act”), which includes the Corporate Transparency Act. This special statement from the Acting Director of FinCEN serves to recognize the bureau’s achievements to date.
“I am incredibly proud of what FinCEN has accomplished over the past 180 days,” said Acting Director Michael Mosier. “Since the AML Act became law on January 1, 2021, our talented and committed career professionals have worked around the clock to implement this important piece of legislation while continuing to deliver on FinCEN’s core mission. Every single success was achieved by the sheer dedication to mission and professionalism of the FinCEN work force. FinCEN will continue to make AML Act implementation a top priority, but we also look forward to continued work with Congress to ensure FinCEN has the resources needed to fulfill its critical mission of safeguarding the U.S. financial system from illicit finance while fostering innovation and resilience in the financial sector.”
FinCEN Achievements to Date – Implementation of the AML Act
• February 4, 2021 – Announcement of the Financial Crimes Tech Symposium
• February 26, 2021 – Direct Hire Authority Operationalized
• March 9, 2021 – FinCEN Notice on Trade in Antiquities and Art
• March 23, 2021 – First FinCEN Exchange Since Codification of Program
• March 26, 2021 – Innovation and Emerging Technologies Briefing to the Senate Committee on Banking, Housing, and Urban Affairs and the House Financial Services Committee and Publication of Supporting Report on FinCEN’s Innovation Hours Program
• April 1, 2021 – Beneficial Ownership Advance Notice of Proposed Rulemaking
• May 19, 2021 – Bank Secrecy Act Advisory Group Plenary Session, Announcing the Launch of New Subcommittees on Innovation and Technology and Information Security and Confidentiality
• June 28, 2021 – No-Action Letter Assessment Submitted to Congress
• June 30, 2021 – Publication of National AML/CFT Priorities and Related Guidance
For more information on these achievements, please visit the dedicated AML Act webpage on FinCEN’s website.