Furthermore, Congress should direct FinCEN to immediately destroy all of the data that was already submitted by small businesses out of fear they would face fines and prison time." ...

On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) announced significant changes to the Beneficial Ownership Information Reporting (BOIR) requirements (Department of the Treasury ...

Forbes contributors publish independent expert analyses and insights. Matthew F. Erskine is a trusts and estates attorney. For the last two years there has been an ongoing imperative for estate ...

The Treasury Department's Financial Crimes Enforcement Network issued the interim final rule, removing the requirement for U.S. businesses to report on their true ownership to FinCEN. The interim ...

On March 14, 2025, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a Geographic Targeting Order (GTO) in the Federal Register that will impose new ...

FinCEN estimates that this revised reporting ... in addition to up to $10,000 in criminal fines and up to two years in prison. The Treasury "reassessed the balance between the usefulness of ...

In a March 11 press release, the Treasury Department's Financial Crimes Enforcement Network (FinCEN) said the order would require impacted money services businesses like check cashing, currency ...

(MENAFN- Caribbean News Global) WASHINGTON, USA - Today, the US Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) issued an Alert on bulk cash smuggling and repatriation ...