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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.

| Casinos
Frequently Asked Questions Casino Recordkeeping, Reporting, and Compliance Program Requirements

Purpose

This document provides guidance interpreting the requirements of the Bank Secrecy Act ("BSA") regulations1 as they apply to the casino and card club industries in the United States.

Section A: 31 C.F.R. § 103.11 Casino and Card…

| Casinos, Depository Institutions, Insurance Industry, Money Services Businesses, Securities and Futures
Suggestions for Addressing Common Errors Noted in Suspicious Activity Reporting

The Financial Crimes Enforcement Network ("FinCEN") has noticed common errors in the filing of Suspicious Activity Reports ("SARs"). Although these errors were noted primarily through studying Suspicious Activity Reports by Money Services Business (Form 109) filings, we believe that publishing…

| Depository Institutions, Securities and Futures
Application of the Correspondent Account Rule to Executing Dealers Operating in Over-The-Counter Foreign Exchange and Derivatives Markets Pursuant to Prime Brokerage Arrangements

The Financial Crimes Enforcement Network is issuing this interpretive guidance to clarify the due diligence obligations of executing dealers in over-the-counter foreign exchange and derivatives markets (“OTC derivatives markets”) pursuant to prime brokerage arrangements under our rules…

| Money Services Businesses
Guidance - Money Transmitter Report of Foreign Bank and Financial Accounts (FBAR) Filing Requirements on IRS.GOV
| Depository Institutions, Money Services Businesses
Requests by Law Enforcement for Financial Institutions to Maintain Accounts

The Financial Crimes Enforcement Network (FinCEN) is issuing the following guidance for financial institutions with account relationships that law enforcement may have an interest in ensuring remain open notwithstanding suspicious or potential criminal activity in connection with the account.…

| Casinos, Depository Institutions, Insurance Industry, Securities and Futures
Suspicious Activity Report Supporting Documentation

The Financial Crimes Enforcement Network (FinCEN)1 is issuing this guidance to clarify:

(1) The Bank Secrecy Act (BSA) requirement that financial institutions provide Suspicious Activity Report (SAR) supporting documentation in response to requests by FinCEN and appropriate…

| Securities and Futures
Application of the Customer Identification Program Rule to Future Commission Merchants Operating as Executing and Clearing Brokers in Give-Up Arrangements

Q. It is an established practice in the futures industry that futures commission merchants engage in transactions through give-up arrangements, whereby a futures commission merchant, acting as an executing broker1, executes an order on an exchange for a commodity customer,2…

| Depository Institutions, Insurance Industry
Frequently Asked Question Customer Identification Programs and Banks Serving as Insurance Agents

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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Potential Money Laundering Risks Related to Shell Companies

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…

| Securities and Futures
Frequently Asked Questions Suspicious Activity Reporting Requirements for Mutual Funds

The Financial Crimes Enforcement Network is issuing these frequently asked questions to clarify the suspicious activity reporting obligations of investment companies pursuant to the applicable Bank Secrecy Act regulation located at 31 C.F.R. § 103.15 (“Reports by mutual funds of suspicious…