The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued guidance to encourage appropriate, voluntary cross-border information sharing among financial institutions, including with relevant foreign financial institutions, to help combat money laundering, terrorist financing and other illicit finance activity. The guidance clarifies that Suspicious Activity Reports (SARs), and information that would reveal the existence of a SAR, cannot be shared, while noting that the Bank Secrecy Act and its implementing regulations generally do not prohibit cross-border information sharing. The guidance was developed in consultation with staff from the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation and National Credit Union Administration, and is framed as applicable across multiple sectors, including casinos, depository institutions, insurance, money services businesses, mortgage companies and brokers, precious metals and jewellery, and securities and futures. It also links enhanced information sharing to the President’s Working Group on Digital Asset Markets report, Strengthening American Leadership in Digital Financial Technology.
Financial Crimes Enforcement Network 2025-09-05
Financial Crimes Enforcement Network issues guidance encouraging voluntary cross-border information sharing by financial institutions
The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) issued guidance to promote voluntary cross-border information sharing among financial institutions to combat illicit finance, clarifying that Suspicious Activity Reports (SARs) cannot be shared. Developed with input from various regulatory bodies, the guidance applies to multiple sectors and aligns with the President’s Working Group on Digital Asset Markets report.