FINCEN DEFENSE LAWYER
AML, BSA, OFAC and FINCEN compliance lawyer.
FINCEN Enforcement DEFENSE LAWYER
FinCEN is a bureau of the U.S. Department of the Treasury. The Director of FinCEN is appointed by the Secretary of the Treasury and reports to the Treasury Under Secretary for Terrorism and Financial Intelligence. FinCEN’s mission is to safeguard the financial system from illicit use and combat money laundering and promote national security through the collection, analysis, and dissemination of financial intelligence and strategic use of financial authorities.
FinCEN carries out its mission by receiving and maintaining financial transactions data; analyzing and disseminating that data for law enforcement purposes; and building global cooperation with counterpart organizations in other countries and with international bodies.
FinCEN exercises regulatory functions primarily under the Currency and Financial Transactions Reporting Act of 1970, as amended by Title III of the USA PATRIOT Act of 2001 and other legislation, which legislative framework is commonly referred to as the “Bank Secrecy Act” (BSA). The BSA is the nation’s first and most comprehensive Federal anti-money laundering and counter-terrorism financing (AML/CFT) statute. In brief, the BSA authorizes the Secretary of the Treasury to issue regulations requiring banks and other financial institutions to take a number of precautions against financial crime, including the establishment of AML programs and the filing of reports that have been determined to have a high degree of usefulness in criminal, tax, and regulatory investigations and proceedings, and certain intelligence and counter-terrorism matters. The Secretary of the Treasury has delegated to the Director of FinCEN the authority to implement, administer, and enforce compliance with the BSA and associated regulations.
The basic concept underlying FinCEN’s core activities is “follow the money.” The primary motive of criminals is financial gain, and they leave financial trails as they try to launder the proceeds of crimes or attempt to spend their ill-gotten profits. FinCEN partners with law enforcement at all levels of government and supports the nation’s foreign policy and national security objectives. Law enforcement agencies successfully use similar techniques, including searching information collected by FinCEN from the financial industry, to investigate and hold accountable a broad range of criminals, including perpetrators of fraud, tax evaders, and narcotics traffickers. More recently, the techniques used to follow money trails also have been applied to investigating and disrupting terrorist groups, which often depend on financial and other support networks.
Legal services we provide:
- Defense of Money Service Businesses in FINCEN enforcement actions.
- Defense of mortgage companies and brokers in FINCEN enforcement actions.
- Defense of precious metals and jewelry businesses in FINCEN enforcement actions.
- Defense of securities and futures companies in FINCEN enforcement actions. (including broker-dealers, commodities/futures and mutual funds)
- Defense of depository institutions in FINCEN enforcement actions.
- Defense of financial institutions in FINCEN enforcement actions.
- Advice and documents/policy drafting and review in compliance with the Bank Secretary Act, Anti Money Laundering laws, and OFAC.
- Drafting and review of AML, BSA, and OFAC documents for the purpose of FINCEN registration and compliance and for licensing such as mortgage lenders and brokers, Money Transmitter, and virtual currency licenses.