Regulatory Alerts2023-04-25 | PDF OnlyAdded
FinCEN Year in Review for FY 2022
This document presents statistical data and operational summaries for the Financial Crimes Enforcement Network for fiscal year 2022, detailing the impact of Bank Secrecy Act filings on law enforcement outcomes. It reports that BSA data supported 15.8% of Internal Revenue Service Criminal Investigation cases and significant portions of active FBI investigations into transnational organized crime, drug enforcement, and public corruption. The review highlights that approximately 4.3 million Suspicious Activity Reports and 20.6 million Currency Transaction Reports were filed by 260,000 registered institutions, resulting in $7.7 billion in asset seizures and an average sentence of 38 months for related prosecutions. Additionally, the text outlines the activities of SAR Review Teams, the 314(a) and 314(b) information sharing programs, and the issuance of specific advisories and alerts regarding ransomware, kleptocracy, and Russian sanctions evasion.