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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.

| Money Services Businesses
Frequently Asked Questions Conducting Independent Reviews of Money Services Business Anti-Money Laundering Programs

We are issuing this guidance to assist money services businesses in understanding the regulatory requirements regarding conducting independent reviews of their anti-money laundering programs.

The Bank Secrecy Act requires money services businesses to establish anti-money laundering…

| Securities and Futures
SEC No-Action Letter Permitting Securities Broker-Dealers to Rely on Investment Advisers for Purposes of the Joint FinCEN/SEC Customer Identification Rule
| Securities and Futures
Application of the Regulations Requiring Special Due Diligence Programs for Certain Foreign Accounts to Certain Introduced Accounts and Give-Up Arrangements in the Futures Industries

The Financial Crimes Enforcement Network is issuing this guidance to clarify the obligations of futures commission merchants subject to the final due diligence rules implementing section 312 of the USA PATRIOT Act (the “section 312 rules”).1 Specifically, this guidance addresses (1)…

| Insurance Industry
Frequently Asked Questions Anti-Money Laundering Program and Suspicious Activity Reporting Requirements for Insurance Companies

Please note: This guidance supplements the Frequently Asked Questions that were issued on October 31, 2005.

1. What does FinCEN mean by "any other insurance product with features of cash value or investment," under the definition of "covered products"?…

| Securities and Futures
Application of the Regulations Requiring Special Due Diligence Programs for Certain Foreign Accounts to the Securities and Futures Industries

The Financial Crimes Enforcement Network is issuing this guidance to clarify the due diligence obligations of broker-dealers, futures commission merchants, and introducing brokers in commodities (collectively, “securities and futures firms”) under the final rules implementing section 312 of the…

| Securities and Futures
Application of the Regulations regarding Special Due Diligence Programs for Certain Foreign Accounts to NSCC Fund/SERV Accounts

The Financial Crimes Enforcement Network is issuing this guidance to clarify the due diligence obligations of mutual funds under the regulations implementing section 312 of the USA PATRIOT Act (“section 312”).1 Specifically, this guidance addresses the issue of for whom a mutual fund…

| 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.

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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…