Guidance

Guidance is intended to clarify obligations or respond to questions of general applicability that arise under the Bank Secrecy Act and implementing regulations at 31 CFR Chapter X. FinCEN alerts, advisories, notices, bulletins, and fact sheets are located here. Guidance regarding beneficial ownership reporting requirements under the Corporate Transparency Act can be found here. Other information pertaining to the Anti-Money Laundering Act of 2020 is available here.
| Depository Institutions, Securities and Futures
Guidance to Financial Institutions on the Repatriation of Currency Smuggled into Mexico from the United States

The Financial Crimes Enforcement Network is issuing this advisory to U.S. financial institutions so that they may better guard against an increasingly prevalent money laundering threat involving the smuggling of bulk U.S. currency into Mexico. This advisory warns U.S. financial institutions of…

| Depository Institutions, Securities and Futures
Frequently Asked Question Customer Identification Program Responsibilities under the Agency Lending Disclosure Initiative

Please note: During the process of developing this guidance, the federal banking agencies were also consulted. Banks that borrow securities through an agent lender in the manner described below may rely on this guidance in implementing their customer identification programs.

…

Guidance to Financial Institutions on the Provision of Financial Services to Belarusian Senior Regime Elements Engaged in Illicit Activities

The Financial Crimes Enforcement Network is issuing this advisory to U.S. financial institutions so that they may guard against a potential money laundering threat involving Belarusian government senior regime elements (including senior executives in state-owned enterprises), acting individually…

| Depository Institutions, Money Services Businesses
Frequently Asked Questions Businesses Cashing Their Own Checks

1. If a business only cashes its own employees’ payroll checks, is it a money services business?

As a service to its employees, Business A cashes employee payroll checks issued to the employees by Business A. It does not cash any other checks. These checks may be cashed…

| Securities and Futures
Frequently Asked Question regarding Customer Identification Programs for Futures Commission Merchants and Introducing Brokers (31 CFR 103.123)

Q. Futures commission merchants engage in transactions through omnibus accounts and sub-accounts established by financial intermediaries. In these situations, (1) the omnibus account or relationship is established by or on behalf of a financial intermediary for the purpose of…

Guidance To Financial Institutions Regarding Hurricane-Related Benefit Fraud

This Advisory warns financial institutions about the potential for fraudulent transactions involving hurricane relief monies. To assist law enforcement, we request that financial institutions include key terms in the narrative portions of all Suspicious Activity Reports filed relating to…

| Depository Institutions, Securities and Futures
Frequently Asked Questions Foreign Bank Recertifications under 31 C.F.R. § 103.177

We are issuing this guidance to clarify the date on which certain U. S. financial institutions must complete recertifications to comply with regulations relating to correspondent accounts established, maintained, administered, or managed in the United States for or on behalf of foreign financial…

| Money Services Businesses
Registration and De-Registration of Money Services Businesses

Money Services Business Guidance on Registration and De-Registration

This guidance concerns Bank Secrecy Act requirements under current regulations for the initial registration, and registration renewal, of money services businesses. It also describes policies regarding de-…

| Depository Institutions
Interagency Guidance on Sharing Suspicious Activity Reports with Head Offices and Controlling Companies

The Financial Crimes Enforcement Network, along with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision (collectively, the “Federal Banking Agencies”) is issuing this…

| Securities and Futures
Guidance on Sharing of Suspicious Activity Reports by Securities Broker-Dealers, Futures Commission Merchants, and Introducing Brokers in Commodities

The Financial Crimes Enforcement Network, after consulting with staff of the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission, is issuing this guidance to confirm that, under the Bank Secrecy Act and its implementing regulations, securities broker-dealers,…