The Financial Crimes Enforcement Network (FinCEN) announced a multi-tiered, data-driven operation focused on more than 100 US money services businesses (MSBs) operating along the southwest border, examining them for potential non-compliance with regulations designed to detect money laundering and combat illicit finance. The operation has resulted in six notices of investigation, dozens of examination referrals to the Internal Revenue Service (IRS), and more than 50 compliance outreach letters. FinCEN positioned the initiative as enabled by technology modernisation efforts pushed by Treasury Secretary Bessent.
Financial Crimes Enforcement Network 2025-12-22
Financial Crimes Enforcement Network launches data-driven southwest border operation targeting over 100 money services businesses
The Financial Crimes Enforcement Network (FinCEN) launched a data-driven operation targeting over 100 US money services businesses (MSBs) near the southwest border for potential regulatory non-compliance. The initiative led to six notices of investigation, numerous IRS examination referrals, and over 50 compliance outreach letters. FinCEN credits technology modernization efforts by Treasury Secretary Bessent for enabling this operation.