Financial Crimes Enforcement Network (FinCEN)

Rule Changes

Joint issuer of the withdrawn proposal

A plan to make banks and money transmitters collect identity data on almost every cross-border transfer above $250 is dead. On November 9, 2026, the Financial Crimes Enforcement Network and the Federal Reserve Board withdrew the proposal they first published in October 2020.

Updated Yesterday

Rule Changes

Issued the order

The Financial Crimes Enforcement Network ordered U.S. financial institutions on November 6 to stop sending or receiving funds to MEXC Global, a Seychelles-based crypto exchange. FinCEN says the platform moved at least $16 billion tied to sanctions evasion and cybercrime between May 2021 and May 2026.

Updated Yesterday

Rule Changes

Withdrew three proposed crypto reporting rules, the last on Nov. 6, 2026; the travel-rule withdrawal is set for Federal Register publication Nov. 9

The Treasury Department's Financial Crimes Enforcement Network and the Federal Reserve Board have dropped a six-year-old plan to require banks and money services businesses to collect identity data on international transfers of $250 or more. The threshold stays at $3,000, where it has been since 1995.

Updated 4 days ago

Rule Changes

Assessed the $1.2 billion penalty against the bank

Bank of America recorded a $1.2 billion non-tax-deductible charge in the third quarter for the penalties Treasury announced October 13. In its quarterly filing on October 30, the bank said it has completed major steps under a December 2024 order to fix its anti-money-laundering program and has added staff and technology since late 2023.

Updated Nov 1

Rule Changes

Finalized Section 311 rule barring Huione Group

The U.S. Treasury sanctioned 146 targets tied to the Cambodia-based Prince Group in October 2025, and the U.K. imposed matching sanctions. The Financial Crimes Enforcement Network (FinCEN) cut the Huione Group, a Cambodian payments conglomerate, off from U.S. banking. FinCEN found it laundered at least $4 billion between August 2021 and January 2025.

Updated Oct 28

Rule Changes

As of September 2026: Issued the final rule and is deleting U.S. person data

Beginning in January 2024, nearly every U.S. business had to tell the federal government who owned it. On August 14, 2026, that obligation ended for domestic companies and U.S. individuals.

Updated Sep 20

Money Moves

As of July 2026: Issued the bank alert

On June 30, the U.S. Treasury froze the American assets of two Mexican men and nine companies, accusing them of funneling tens of millions of dollars a year to Mexico's most powerful cartel through a fuel-smuggling ring. Mexico's financial intelligence unit moved the same day, blocking 20 entities: the 11 OFAC targets plus nine additional people and firms it identified on its own.

Updated Jul 1

Rule Changes

As of May 2026: Led financial enforcement actions against Huione

Cambodia extradited Li Xiong, former chairman of Huione Group, to China on April 2, making him the second senior figure removed. Blockchain analytics firm Elliptic calls it the largest illicit online marketplace ever documented and traced more than $89 billion in cryptocurrency flowing through its platforms. The platforms allegedly laundered proceeds from romance scams, cyber heists, and North Korean state-sponsored theft.

Updated May 30

Rule Changes

As of May 2026: Implementing and enforcing new reporting requirements

For decades, anyone with enough cash and a shell company could buy a house in America without telling the federal government who they were. That changed on March 1, 2026, when a new rule from the Financial Crimes Enforcement Network (FinCEN) took effect. It requires closing agents to report the true owners behind any legal entity or trust purchasing residential property without traditional bank financing. The rule applies nationwide, to every price point, closing a gap the Treasury Department has called one of the most significant vulnerabilities in the country's anti-money laundering defenses.

Updated May 30

Rule Changes

As of May 2026: Enforcing revised rule against foreign companies only

Congress passed the Corporate Transparency Act in 2021 to crack down on shell companies used for money laundering and terrorist financing, requiring 33 million U.S. businesses to report their true owners to FinCEN. Courts in Alabama and Texas declared it likely unconstitutional.

Updated May 19

Rule Changes

As of May 2026: Reviewing investment adviser AML rule during two-year delay

FinCEN just delayed anti-money laundering rules for investment advisers by two years, pushing compliance from January 2026 to January 2028. It's the fourth time since 2002 that federal regulators have tried—and struggled—to close what transparency advocates call a $125 trillion loophole. Sanctioned Russian oligarchs, corrupt foreign officials, and fraudsters exploit it to access U.S. markets.

Updated May 19

Rule Changes

As of May 2026: Pushing banks to spot cartel-linked oil and money laundering patterns

Treasury sanctioned the Cartel de Santa Rosa de Lima (CSRL) and its jailed leader José Antonio Yépez Ortiz ("El Marro") on December 17, 2025. Washington's campaign against huachicol money then shifted toward the infrastructure that makes stolen hydrocarbons tradable: shipping, routing, and due diligence.

Updated May 15