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SAN JUAN, Puerto Rico—Today, the Financial Crimes Enforcement Network (FinCEN) held an outreach event on beneficial ownership reporting requirements with Puerto Rico’s Secretary of State—the Hon. Omar J. Marrero-Diaz—at the Puerto Rico Department of State. The event included trade associations that represent small business groups in Puerto Rico. It was FinCEN’s first outreach event in Spanish regarding the Federal requirements to report information to FinCEN about the individuals who ultimately own or control them.
During today’s event, FinCEN Deputy Director Jimmy Kirby emphasized that implementation of the beneficial ownership reporting requirements is a significant priority for FinCEN in its efforts to combat money laundering and related predicate offenses. He explained that filing beneficial ownership information reports is simple, secure, and free. FinCEN began accepting reports on January 1, 2024, and has received more than 2 million reports to date.
Today’s meeting builds upon previous U.S. Treasury engagements in Puerto Rico this year. In April, Treasury Under Secretary for Terrorism and Financial Intelligence Brian Nelson visited Puerto Rico and participated in a banking roundtable where he provided remarks on combating illicit financial activities and implementing strong standards to combat money laundering and counter the financing of terrorism. And in February, FinCEN Director Andrea Gacki traveled to Puerto Rico to highlight collaborative efforts to combat public corruption, fraud, and drug trafficking. During her trip, Director Gacki hosted the first FinCEN Exchange in Puerto Rico, which brought together representatives from the financial industry and Federal and regional law enforcement to support law enforcement’s efforts on the island. She also addressed the 20th Annual Puerto Rico Bankers Association Symposium of Anti-Money Laundering and met with Puerto Rican officials to discuss illicit finance threats.
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