Publisher's Synopsis
The mission of the Financial Crimes Enforcement Network (FinCEN) is to enhance the integrity of financial systems by facilitating the deterrence and detection of financial crime. One tool FinCEN uses to accomplish this mission is a series of statutory authorities commonly referred to as the Bank Secrecy Act ("BSA"). Consistent with the BSA, and other authorities, FinCEN's regulations require financial institutions to submit to FinCEN certain records or reports that may have a high degree of usefulness in criminal, tax, or regulatory investigations or proceedings, or in the conduct of intelligence or counterintelligence activities, including analysis, to protect against international terrorism. FinCEN oversees the maintenance of a database with approximately 180 million records of financial transactions and other reports filed by institutions subject to the BSA.
