News & Analysis as of July 30, 2025

Data Collection

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The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of money laundering, terrorist financing and other financial crimes by collecting, monitoring, and analyzing financial transaction data. Such data is disseminated to both domestic and international law enforcement agencies. less -

FinCEN Order Allows Banks to Collect Taxpayer Information from Third Parties

McGlinchey Stafford on 7/10/2025

In a significant move, on June 27, 2025 the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an order granting banks and their subsidiaries an exemption from the Customer Identification...more

US Cybersecurity and Data Privacy review and update: Looking back on our 2021 articles and planning ahead for 2022

Eversheds Sutherland (US) LLP on 1/27/2022

The past year’s trends in privacy and cybersecurity are set to intensify in 2022, with heightened threats, increased regulations, and elevated expectations - as well as new opportunities. To navigate the year ahead, we lay...more

U.S. Senate Considering Update to Federal Anti-Money Laundering System

Foley Hoag LLP - White Collar Law &... on 9/30/2019

A bipartisan group of Senators, with the support of the American Bankers Association, recently introduced bill S.2563, known as the ILLICIT Cash Act. The acronym “ILLICIT” stands for “Improving Laundering Laws and Increasing...more

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FinCEN › Today's Popular Updates › Data Collection

FinCEN Order Allows Banks to Collect Taxpayer Information from Third Parties

US Cybersecurity and Data Privacy review and update: Looking back on our 2021 articles and planning ahead for 2022

U.S. Senate Considering Update to Federal Anti-Money Laundering System

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