Financial Crimes Enforcement Network (FinCEN)
United States
US Treasury bureau that issued and administers the beneficial-ownership reporting rule.
About
The Financial Crimes Enforcement Network (FinCEN) is a bureau of the United States Department of the Treasury responsible for safeguarding the financial system from illicit use. It administers the Bank Secrecy Act and related anti-money-laundering and counter-terrorist-financing regulations, and it collects and analyzes financial reports filed by banks and other institutions. FinCEN's functions include issuing regulations and guidance, maintaining databases of currency-transaction and suspicious-activity reports, supporting investigations by law-enforcement and regulatory agencies, and exchanging information with foreign financial intelligence units. It also has duties related to beneficial-ownership reporting. The bureau is a regulatory and analytical body rather than a primary criminal-investigation agency, working alongside other authorities that pursue enforcement actions.
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