Glossary

Financial Crimes Enforcement Network (FINCEN)

The Financial Crimes Enforcement Network (or FinCEN) is a bureau of the United States Department of the Treasury that collects and analyzes information about financial transactions in order to combat money laundering, terrorist financiers, and other financial crimes.

Related Terms

  • Correspondent Banking

    A relationship entered into between a small bank and a big bank in which the big bank provides a number of deposit, lending, and other services.

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  • Office of Foreign Assets Control (OFAC)

    Office of Foreign Assets Control. A US regulatory Agency that is responsible for monitoring funds held or transferred to illegal entities. The OFAC list is a list of companies/individuals that should be prevented from sending/receiving...

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