Latest Updates
‘Dating or Defrauding?’ a Joint Effort to Alert Online Daters, Social Media Users of Relationship Investment Scams
February 27, 2025
FinCEN has joined a multi-agency campaign, together with multiple federal, state, and nonprofit organizations, and spearheaded by the Commodity Futures Trading Commission’s (CFTC) Office of Consumer Education and Outreach, in launching a national awareness effort to alert the public to relationship investment scams targeting consumers through wrong-numbered texts, dating apps, and social media.
FinCEN Updates: Corporate Transparency Act Reporting Requirements Back in Effect with Extended Reporting Deadline; FinCEN Announces Intention to Revise Reporting Rule
02/19/2025
Corporate Transparency Act Reporting Requirements Back in Effect with Extended Reporting Deadline; FinCEN Announces Intention to Revise Reporting Rule
Following the February 18, 2025, decision by the U.S. District Court for the Eastern District of Texas in Smith, et al. v. U.S. Department of the Treasury, et al., 6:24-cv-00336, the Financial Crimes Enforcement Network (FinCEN) has announced that beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act are back in effect, with a new deadline of March 21, 2025 for most companies.
FinCEN has also announced that it will assess its options to further modify deadlines, while prioritizing reporting for those entities that pose the most significant national security risks. FinCEN intends to initiate a process this year to revise the BOI reporting rule to reduce burden for lower-risk entities, including many U.S. small businesses.
FinCEN Updates: FinCEN Announces Inflation Adjustments to Bank Secrecy Act Civil Monetary Penalties
01/17/2025
FinCEN Announces Inflation Adjustments to Bank Secrecy Act Civil Monetary Penalties
The Financial Crimes Enforcement Network (FinCEN) issued a final rule today to reflect annual inflation adjustments to its civil monetary penalties as mandated by the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended. This rule adjusts certain maximum civil monetary penalties within the jurisdiction of FinCEN to the amounts required by that Act.