FinCEN

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Definition

Proper noun A specific law enforcement agency within the United States Department of the Treasury. Its primary mission is to safeguard the financial system from illicit use, combat money laundering, and promote national security through the collection, analysis, and dissemination of financial intelligence.

Usage

"FinCEN" is used as a proper noun to refer specifically to this agency. It is typically used in formal or official contexts related to finance, law, regulation, and compliance.

Examples
  • Financial institutions must file certain reports with FinCEN.
  • FinCEN issued new guidance on virtual currency transactions.
  • The data collected by FinCEN helps law enforcement track criminal networks.
Advanced Usage
  • "FinCEN data": Refers to the financial intelligence information collected and maintained by the agency.
  • "FinCEN regulations": Refers to the rules and requirements, such as the Bank Secrecy Act (BSA) regulations, that are administered by the agency.
Variants and Related Words
  • Financial Crimes Enforcement Network: The full, official name of the agency. "FinCEN" is the acronym.
  • BSA (Bank Secrecy Act): The primary U.S. anti-money laundering law that FinCEN administers.
Synonyms
  • Financial intelligence unit (FIU): A generic term for a government agency that performs a similar function. FinCEN is the U.S. FIU.
Noun
  1. a law enforcement agency of the Treasury Department responsible for establishing and implementing policies to detect money laundering

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