Difference between revisions of "FinCEN"
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==Full Title== | ==Full Title== | ||
| − | Financial Crimes Enforcement Network ([[FinCEN]]) | + | Financial Crimes Enforcement Network ([[FinCEN]]) is focused primarily on Money Laundering in support of organized crime. |
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==Context== | ==Context== | ||
| − | Robust customer identity processes are the foundation of a secure and trusted U.S. financial system and are fundamental to the effectiveness of every financial institution’s anti-money laundering and countering the financing of terrorism (AML/CFT) program. ... Transparency around individuals and corporations can bring economic benefits as well, by protecting our financial system, reducing due diligence costs, enabling fair business competition, and increasing tax revenue. ... Opportunities exist for emerging technologies, such as digital identity solutions, AI, and | + | Robust customer identity processes are the foundation of a secure and trusted U.S. financial system and are fundamental to the effectiveness of every financial institution’s anti-money laundering and countering the financing of terrorism (AML/CFT) program. ... Transparency around individuals and corporations can bring economic benefits as well, by protecting our financial system, reducing due diligence costs, enabling fair business competition, and increasing tax revenue. ... Opportunities exist for emerging technologies, such as digital identity solutions, AI, and [[Privacy Enhancing Technology]], to help address identity-related exploitations and combat a wide variety of illicit finance typologies.<ref>Andrea Gacki, ''"Identity, Authentication and the Road Ahead: A Cybersecurity Policy Forum"'' FinCen (2024-01-25) https://www.fincen.gov/news/speeches/prepared-remarks-fincen-director-andrea-gacki-during-identity-authentication-and-road</ref> |
==References== | ==References== | ||
Latest revision as of 12:07, 6 August 2025
Full Title
Financial Crimes Enforcement Network (FinCEN) is focused primarily on Money Laundering in support of organized crime.
Context
Robust customer identity processes are the foundation of a secure and trusted U.S. financial system and are fundamental to the effectiveness of every financial institution’s anti-money laundering and countering the financing of terrorism (AML/CFT) program. ... Transparency around individuals and corporations can bring economic benefits as well, by protecting our financial system, reducing due diligence costs, enabling fair business competition, and increasing tax revenue. ... Opportunities exist for emerging technologies, such as digital identity solutions, AI, and Privacy Enhancing Technology, to help address identity-related exploitations and combat a wide variety of illicit finance typologies.[1]
References
- ↑ Andrea Gacki, "Identity, Authentication and the Road Ahead: A Cybersecurity Policy Forum" FinCen (2024-01-25) https://www.fincen.gov/news/speeches/prepared-remarks-fincen-director-andrea-gacki-during-identity-authentication-and-road
Other Material
- See wiki page on AML - Anti-Money Laundering
Technology Solution
