The Financial Crimes Enforcement Network (FinCEN) wants to strengthen information sharing with financial institutions. To help achieve this, it announced it has launched its FinCEN Exchange program to enhance public-private information sharing. Working closely with law enforcement, FinCEN plans to convene regular briefings with financial institutions to exchange information on important potential illegal finance threats. The program is intended to help financial institutions better identify risks and better focus on higher priority issues. This will in turn help FinCEN and law enforcement get critical information to continue the fight against money laundering and other financial crimes.
From The NAFCU Compliance Blog, written by Shari R. Pogach, Regulatory Paralegal, NAFCU