The Latest Breaking News from FinCEN

Treasury Backs Down on Biden-Era Cryptocurrency Surveillance Proposal

It’s a small victory for financial privacy against escalating surveillance.

Reason · Oct 9

Moving $50,000 Between Your Own Bank Accounts? Here’s What Can Trigger a Fraud Review

Moving $50,000 from one bank account you own to another does not automatically make you suspicious. It can, however, make a bank’s fraud and compliance systems pay closer attention to the transaction.

The Free Financial Advisor · Oct 7

Do banks report deposits over $10,000 to the IRS? What really happens when you cross the cash reporting threshold

A cash deposit exceeding $10,000 in a single day triggers an automatic report to the federal government. Financial institutions do not make this decision based on suspicion or branch policy. The Bank Secrecy Act mandates it. When an individual or business deposits large sums of physical currency, the bank must…

The Economic Times · Sep 28

FBAR 2026: Have more than $10,000 in foreign accounts? This overlooked U.S. filing rule could cost you thousands if you miss Form 114

A foreign bank account can create a major U.S. tax filing duty. The FBAR, or FinCEN Form 114, applies when qualifying foreign accounts exceed $10,000 combined at any time. U.S. citizens, residents, and certain entities may need to report them. For 2026, a non-willful FBAR violation can reach $16,536. Willful…

The Economic Times · Aug 24

Aimed at Cartels, FinCEN's Cash Reporting Order Is Shutting Down Small Businesses at the Border

Border money-transfer shops have filed 700,000 federal cash reports under a low-dollar rule now blocked in court — and customers are the ones vanishing.

Latin Times · Aug 16

FinCEN Corporate Transparency Act Rule Change: Treasury Orders Erasure of Domestic Ownership Records

The US Treasury's rollback on corporate ownership reporting exempts domestic companies from disclosing beneficial ownership, raising concerns about transparency and the ability to track financial crimes.

International Business Times UK · Aug 15

Treasury Ends Beneficial Ownership Reporting for U.S. Companies, Senator Warren Warns of Risks to National Security

Treasury Secretary Scott Bessent called the move "a victory for common sense and American small businesses" while Warren labeled it "a gift to cartels, criminals, and U.S. adversaries"

Latin Times · Aug 13

Trump Administration Wipes Beneficial Ownership Database in Permanent Removal of Anti-Corruption Safeguards

The US Treasury has permanently ended the rule requiring companies to disclose their beneficial owners, sparking debate between deregulation supporters and anti-corruption advocates.

International Business Times UK · Aug 13

U.S. Treasury Issues Geographic Targeting Order Requiring Recordkeeping and Reporting by Certain Financial Institutions in Minnesota

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a Geographic Targeting Order (GTO) imposing new recordkeeping and reporting requirements on certain financial institutions operating in Minnesota, according to an official announcement published in the Federal Register on August 11, 2026.

Everybody Loves Your Money · Aug 12

US Drops Key Business Ownership Reporting Rule for Americans as Scott Bessent Hails 'Victory' for Small Businesses—'Gift to ‌Cartels,' Warns Elizabeth Warren

The Treasury Department has finalized a rule that exempts U.S. firms and individuals from reporting beneficial ownership information to its Financial Crimes Enforcement Network (FinCEN).

Benzinga · Aug 12