31 U.S.C. 310 Mandate from the Congress

The statute established FinCEN, the Financial Crimes Enforcement Network, within the Treasury Department, and was followed by Treasury Order No. 105-08 on April 25, 1990.

31 U.S.C. 310(b)(2) states the duties and powers of the Director are as follows:

• Advise and make recommendations on matters relating to financial intelligence, financial criminal activities, and other financial activities to the Under Secretary of the Treasury for Enforcement.
• Maintain a government-wide data access service with a broad range of financial transactions information. collected from federal, state, local and foreign agencies.
• Analyze and disseminate the information in support of law enforcement investigatory professionals at the Federal, State, Local, and International levels.
• Determine emerging trends and methods in money laundering and other financial crimes.
• Serve as the Financial Intelligence Unit of the United States.
• Carry out other delegated regulatory responsibilities.

Treasury Order 180-01

The Treasury Order 180-01, reaffirmed January 14, 2020, delegated responsibilities to FinCEN to implement, administer and enforce compliance with the Currency and Foreign Transactions Reporting Act of 1970, aka the ‘Bank Secrecy Act’.

Commentary by Attorney Timothy F. Mills, Editor / Action Cyber Times™ © 2019 All Rights Reserved.

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