The Financial Crimes Enforcement Network and the staff of the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, Office of the Comptroller of the Currency, and Office of Thrift Supervision are issuing this frequently…
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The Financial Crimes Enforcement Network (FinCEN) today released an assessment showing considerable growth in money laundering-related suspicious activity reporting associated with the commercial real estate industry. An examination of a sampling of Suspicious Activity Reports (SARs) filed over…
The Financial Crimes Enforcement Network (FinCEN) today announced the launch of FinCEN Updates – a new, free e-mail subscription management service designed to keep the financial industry, the media and the public informed of news, rulemakings, advisories and other developments at FinCEN. This…
Robert W. Werner announced today that he will be leaving his position as Director of the Financial Crimes Enforcement Network at the end of the year and accepting a position with Merrill Lynch & Co., Inc., as a Managing Director and the head of Merrill Lynch's Monetary and Financial Control…
Chairman Coleman, Senator Levin, and distinguished Members of the Subcommittee, thank you for the opportunity to appear before you today to discuss the Financial Crimes Enforcement Network’s (FinCEN) ongoing efforts to address money laundering and terrorist financing concerns associated with the…
FinCEN to Continue Outreach Effort to States on Shell Company Formations
The Financial Crimes Enforcement Network (FinCEN) today issued an advisory to U.S. financial institutions on identifying, assessing and managing the potential risks associated with accounts maintained for…
This advisory is being issued to alert financial institutions to some of the potential money laundering risks associated with providing financial services to shell companies. Most shell companies are formed by individuals and businesses for legitimate reasons. However, these entities also have…
An assessment released today by the Financial Crimes Enforcement Network (FinCEN) reveals that suspected mortgage loan fraud in the United States continues to rise, and has risen 35 percent in the past year. FinCEN conducted the assessment, which was based on an analysis of Suspicious Activity…