Compliance
FinCEN
Also known as Financial Crimes Enforcement Network
FinCEN, the Financial Crimes Enforcement Network, is the US Treasury bureau responsible for combating money laundering and financial crime. FinCEN administers beneficial ownership reporting, receives suspicious activity reports from financial institutions, and sets anti-money-laundering rules.
In plain terms: The US Treasury agency behind money-laundering rules and ownership reporting.
Why it matters
Founders encounter FinCEN in two places: beneficial ownership reporting, and indirectly through the AML obligations that shape how banks treat their accounts.
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