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What Is the Financial Crimes Enforcement Network?

April 26, 2017crimes enforcement financial Network

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What Is the Financial Crimes Enforcement Network?

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The Financial Crimes Enforcement Network (FinCEN) is a department within the United States Treasury responsible for identifying, preventing, and responding to financial crimes. One of its primary roles is as an enforcer of the Bank Secrecy Act. This department was established in 1990, reworked in 1994, and broadened considerably in 2001 under the USA PATRIOT Act, an act of Congress passed in response to terrorist attacks on several targets in the United States on Sept. 11, 2001.