Financial Crimes Enforcement Network - FinCEN

AAA

DEFINITION of 'Financial Crimes Enforcement Network - FinCEN'

A network administered by the United States Department of the Treasury whose goal it is to prevent and punish criminals and criminal networks that participate in money laundering. FinCEN operates domestically and internationally, and it consists of three major players: law-enforcement agencies, the regulatory community and the financial-services community.

INVESTOPEDIA EXPLAINS 'Financial Crimes Enforcement Network - FinCEN'

By researching mandatory disclosures imposed on financial institutions, FinCEN tracks suspicious persons, their assets and their activities to make sure that money laundering is not occurring. FinCEN tracks everything from very complicated electronically based transactions to simple smuggling operations that involve cash. As money laundering is such a complicated crime, FinCEN seeks to fight it by bringing different parties together.

RELATED TERMS
  1. Wire Fraud

    A situation where a person concocts a scheme to defraud or obtain ...
  2. Smurf

    Colloquial term for a money launderer. Also refers to one who ...
  3. Currency Transaction Report - CTR

    A bank form used in the United States to help prevent money laundering. ...
  4. Whistleblower

    Anyone who has and reports insider knowledge of illegal activities ...
  5. Offshore

    1. Located or based outside of one's national boundaries. The ...
  6. Money Laundering

    The process of creating the appearance that large amounts of ...
Related Articles
  1. Economics

    Online Investment Scams Tutorial

    To bamboozle someone out of their money is an age-old ruse. Learn about some of the gimmicks modern-day swindlers use and avoid becoming a statistic.
  2. Options & Futures

    Handcuffs And Smoking Guns: The Criminal Elements Of Wall Street

    From godfathers to perps, familiarize yourself with the "criminal elements" creeping around Wall Street.
  3. Personal Finance

    Pros And Cons Of Offshore Investing

    Tax loopholes are shrinking, but there are still plenty of viable prospects. Get the big picture.
  4. Investing Basics

    How do regulators ensure that markets are conducted at arm's length?

    Learn about arm's length transactions and how the Investment Advisers Act allows stockbrokers to sell securities based on suitability reviews.
  5. Economics

    America's Most Notorious Corporate Criminals

    Learn about the crimes and punishments of some of the most infamous convicted white-collar crooks.
  6. Investing

    What's the difference between legal defalcation and illegal defalcation?

    Discover what is meant by the term ''defalcation'' and how it can be used in multiple contexts to describe illegal or legal activities.
  7. Investing News

    Educating Your Clients About Cybersecurity

    Financial advisors must lead the charge against cybersecurity risks, for their clients and for their own practices.
  8. Investing News

    How The Patriot Act Works & Why Is It Important

    The USA Patriot Act gave the government more muscle to fight financial crime after the Sept. 11 terrorist attacks. Here's an overview.
  9. Investing

    What was the Mahonia company and why did it become the subject of a lawsuit?

    In 1992, J.P.Morgan went into the energy trading business by creating a venture company called Mahonia Limited. At least, that is how things appeared on paper. Mahonia was actually a type of ...
  10. Insurance

    What You Need To Know About Insurance Fraud

    Insurance fraud is as old as commerce. Discover the types of life insurance fraud and how they affect you.

You May Also Like

Hot Definitions
  1. Treasury Bond - T-Bond

    A marketable, fixed-interest U.S. government debt security with a maturity of more than 10 years. Treasury bonds make interest ...
  2. Weight Of Ice, Snow Or Sleet Insurance

    Financial protection against damage caused to property by winter weather specifically, damage caused if a roof caves in because ...
  3. Weather Insurance

    A type of protection against a financial loss that may be incurred because of rain, snow, storms, wind, fog, undesirable ...
  4. Portfolio Turnover

    A measure of how frequently assets within a fund are bought and sold by the managers. Portfolio turnover is calculated by ...
  5. Commercial Paper

    An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories ...
  6. Federal Funds Rate

    The interest rate at which a depository institution lends funds maintained at the Federal Reserve to another depository institution ...
Trading Center