Following the recent discovery of the billions of taxpayer dollars in benefits fraud that Minnesota suffered, FinCEN (Financial Crimes Enforcement Network), a part of the U.S. Department of the Treasury, issued several initiatives including an order to require banks...
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FinCEN
New Rules for Real Estate Professionals to Report Cash Transactions of Residential Real Estate
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has designed a reporting requirement to increase transparency of cash transactions in real estate, which will aid in deterring money laundering through real estate transactions. The reporting...
FinCEN Proposes to Sever Access to the U.S. Financial System if Foreign Banks do Business With 10 Gambling Establishments Tied to Laundering Money From Narcotics Trafficking With the Sinaloa Cartel
This week the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has proposed to sever the access to the U.S. financial system by 10 gambling establishments in Mexico, by prohibiting financial institutions from opening or maintaining a...
The Financial Crimes Enforcement Network Warns of Oil Smuggling Schemes
On May 1, 2025, the Financial Crimes Enforcement Network (FinCEN) released a report warning individuals and businesses to be vigilant in identifying schemes involving crude oil smuggling in Mexico and across the southern U.S. border. FinCEN reports that the Jalisco...
