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What Is the Financial Crimes Enforcement Network (FinCEN)?

The Financial Crimes Enforcement Network (FinCEN) is a U.S. bureau that analyzes financial transactions to prevent financial crimes.

What Is the Financial Crimes Enforcement Network (FinCEN)?

The Financial Crimes Enforcement Network (FinCEN) is a bureau of the United States Department of the Treasury that works by collecting as well as analyzing the information about financial transactions with the end goal of combating both domestic as well as international money laundering, terrorist financing as well as other financial crimes.


The mission behind the Financial Crimes Enforcement Network is to safeguard the financial system from illicit use, as well as fully combat money laundering and its related crimes, such as terrorism, and even promote national security through the usage of financial authorities as well as the collection, analysis and dissemination of financial intelligence. 


When it comes to its insignia, the FinCEN's insignia emphasizes the unique mission when it comes to safeguarding the financial system from illicit use. It features several symbols which are central to the mission.


The globe represents FinCEN's worldwide reach, influence, authorities as well as responsibilities.


The binary numbers actually mean FinCEN in binary code, as well as represent the financial data that FinCEN uses in order to keep the financial system secure, and the communities and families safe. 


The eagle represents the strength, pure power and determination of the American people, as well as the position in the center which symbolizes the power as well as the commitment of the protection. The shield represents the national security mission, and the silhouette of a bank represents the complex financial system that FinCEN uses in order to help supervise and administer things.


FinCEN was established by the order of the Secretary of the Treasury on April 25, 1990. 


in May1994 however, their mission was broadened to include regulatory responsibilities, and in October of the same year the Treasury Department’s precursor of FinCEN, the Office of Financial Enforcement was merged with FinCEN, on Sept. 26, 2002, after Title III of the PATRIOT Act was passed, the Treasury Order 180-01 made it an official bureau in the Department of Treasury.


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What Is the Financial Crimes Enforcement Network (FinCEN)?

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