The Financial Crimes Enforcement Network (FinCEN)

The Financial Crimes Enforcement Network (FinCEN).

The Financial Crimes Enforcement Network (FinCEN) is a bureau of the United States Department of the Treasury that collects and analyzes information about financial transactions in order to combat money laundering, terrorist financiers, and other financial crimes.
Financial Crimes Enforcement Network (FinCEN) is a network, a means of bringing people and information together to fight money laundering. Since its creation in 1990, FinCEN has coordinated the sharing of information with law enforcement agencies and its other partners in the regulatory and financial communities.

FinCEN was established by order of the Secretary of the Treasury (Treasury Order Numbered 105–08) on April 25, 1990. In May 1994, its mission was broadened to include regulatory responsibilities and the Treasury Department’s Office of Financial Enforcement (OFE) was merged with FinCEN in October 1994. On September 26, 2002, after Title III of the Patriot Act was passed, Treasury Order 180-01 made it an official bureau in the Department of the Treasury.

It is alleged by many that FinCEN’s regulations against structuring are enforced unfairly and arbitrarily – small business people who sell at farmers’ markets have been targeted while politically connected people like Eliot Spitzer are not prosecuted.

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