Takeaways from FinCEN Director Kenneth Blanco’s Recent Remarks

The Financial Crimes Enforcement Network (FinCEN) Director Kenneth Blanco spoke at the American Bankers Association/American Bar Association Financial Crimes Enforcement Conference during the final quarter of 2019. Blanco stressed the agency’s mission to safeguard national security and the financial system and the important role that financial institutions play in this effort. His speech provided insight as to how BSA data is used with respect to convertible virtual currency, the BSA Values Project, the importance of beneficial ownership information, interagency working group efforts, and FinCEN’s recent organizational realignment. Blanco’s comments can be helpful indicators of FinCEN's work and views on certain topics but are not a substitute for the agency's formal regulations and guidance.

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