Immediate Release August 05, 2024 QUEENS, New York—On August 2, Financial Crimes Enforcement Network (FinCEN) Deputy Director Jimmy Kirby participated in a beneficial ownership reporting outreach event in Queens, New York with U.S. House of Representatives Small Business Committee Ranking Member Rep. Nydia Velazquez (D-NY). Under the Corporate Transparency Act—a bipartisan law enacted to curb […]

Immediate Release July 22, 2024 The Department of the Treasury, on behalf of the Financial Crimes Enforcement Network (FinCEN), will publish in the Federal Register a 30-day notice pursuant to the Paperwork Reduction Act of 1995 (PRA) for beneficial ownership information requests (BOI requests). This notice follows a 60-day notice on BOI requests that FinCEN previously issued for public […]

Immediate Release March 28, 2024 WASHINGTON—The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) is issuing a request for information (RFI) related to existing requirements for banks under the Customer Identification Program (CIP) Rule to collect a taxpayer identification number (TIN) from a customer prior to opening an account. Generally, for a customer […]

Immediate Release March 04, 2024 Updated March 11, 2024 On March 1, 2024, in the case of National Small Business United v. Yellen, No. 5:22-cv-01448 (N.D. Ala.), a federal district court in the Northern District of Alabama, Northeastern Division, entered a final declaratory judgment, concluding that the Corporate Transparency Act exceeds the Constitution’s limits on […]

Immediate Release February 13, 2024 WASHINGTON—The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Financial Trend Analysis (FTA) today reflecting an increase in Bank Secrecy Act (BSA) reporting associated with the use of convertible virtual currency (CVC) and online child sexual exploitation (OCSE) and human trafficking. This FTA is based on […]