Financial Crimes Enforcement Network (Noun)
Meaning
A law enforcement agency of the Treasury Department responsible for establishing and implementing policies to detect money laundering.
Classification
Nouns denoting groupings of people or objects.
Examples
- The Financial Crimes Enforcement Network is a bureau of the U.S. Department of the Treasury that analyzes and disseminates financial intelligence to combat money laundering and terrorist financing.
- Financial Crimes Enforcement Network (FinCEN) is responsible for safeguarding the financial system against abuse by identifying and addressing potential vulnerabilities.
- As part of its duties, the Financial Crimes Enforcement Network works closely with law enforcement agencies to investigate and prosecute financial crimes.
- In its role, the Financial Crimes Enforcement Network collects and analyzes reports of suspicious financial activity to support its mission of preventing money laundering.
- By issuing guidance and regulations, the Financial Crimes Enforcement Network helps financial institutions comply with the Bank Secrecy Act to combat money laundering and other financial crimes.