Regulatory Alerts2025-06-18 | PDF OnlyAdded
FinCEN Year in Review FY 2024
The document presents statistical data on the use of Bank Secrecy Act reporting by law enforcement agencies, including the IRS-CI, FBI, and HSI, detailing metrics such as SAR and CTR counts, investigation links, arrests, and seizures. It outlines the volume of BSA filings received from approximately 324,000 institutions, the operation of Section 314 information sharing programs, and the provision of analytical reports and training to authorized users. The review also lists published financial trend analyses and advisories, public-private partnership activities, and special measures imposed under Section 311 and Section 9714, including a final rule against Al-Huda Bank and a proposed rule on virtual currency mixing. Additionally, it records the issuance of $3.4 billion in civil money penalties, primarily against Binance Holdings Ltd., and notes the evaluation of 127 new whistleblower tips.