FinCEN Legislation and Regulations
FinCEN Legislation and Regulations
Bank Secrecy Act (1970)
- Statute: https://www.congress.gov/100/statute/STATUTE-102/STATUTE-102-Pg4181.pdf
- Thomas: https://www.congress.gov/bill/100th-congress/house-bill/5210
Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act)
Intelligence Reform & Terrorism Prevention Act of 2004
Corporate Transparency Act (2020) a/k/a Anti-Money Laundering Act (2020)
Final Rule, 31 CFR 1010, Beneficial Ownership Reports (September 30, 2022)
Bank Secrecy Act
12 U.S.C.
1829b - Retention of records by insured
depository institutions
12 U.S.C.
1951 - Congressional findings and
declaration of purpose
12 U.S.C. 1952 - Reports on ownership and control
12 U.S.C. 1953 - Recordkeeping and procedures
12 U.S.C. 1954 - Injunctions
12 U.S.C. 1955 - Civil penalties
12 U.S.C. 1956 - Criminal penalty
12 U.S.C. 1957 - Additional criminal penalty in
certain cases
12 U.S.C. 1958 - Compliance
12 U.S.C. 1959 - Administrative procedure
12 U.S.C. 1960 - Safe harbor with respect to keep
open directives
31 U.S.C.
5311 - Declaration of purpose
31 U.S.C. 5312 - Definitions and application
31 U.S.C. 5313 - Reports on domestic coins and
currency transactions
31 U.S.C. 5314 - Records and reports on foreign
financial agency transactions
31 U.S.C.
5316 - Reports on exporting and importing
monetary instruments
31 U.S.C. 5317 - Search and forfeiture of monetary
instruments
31 U.S.C. 5318 - Compliance, exemptions, and summons
authority
31 U.S.C. 5318A - Special measures for jurisdictions,
financial institutions, international transactions, or types of accounts of
primary money laundering concern
31 U.S.C. 5319 - Availability of reports
31 U.S.C. 5320 - Injunctions
31 U.S.C. 5321 - Civil penalties
31 U.S.C. 5322 - Criminal penalties
31 U.S.C. 5323 - Whistleblower incentives and
protections
31 U.S.C. 5324 - Structuring transactions to evade
reporting requirement prohibited
31 U.S.C. 5325 - Identification required to purchase
certain monetary instruments
31 U.S.C. 5326 - Records of certain domestic
transactions
[31
U.S.C. 5327 and 5328 have been repealed. Section 5327, relating to
financial institutions reporting on customers, was repealed in 1996. Section
5328, relating to protections for whistleblowers, was repealed by the National Defense Authorization Act
for Fiscal Year 2021.]
31 U.S.C.
5329 - Staff commentaries
31 U.S.C. 5330 - Registration of money transmitting
businesses
31 U.S.C. 5331 - Reports relating to coins and
currency received in nonfinancial trade or business
31 U.S.C. 5332 - Bulk cash smuggling into or out of
the United States
31 U.S.C. 5333 - Safe harbor with respect to keep
open directives
31 U.S.C. 5334 - Training regarding anti-money
laundering and countering the financing of terrorism
31 U.S.C. 5335 - Prohibition on concealment of the
source of assets in monetary transactions
31 U.S.C. 5336 - Beneficial ownership information
reporting requirements
FinCEN's regulations implementing the Bank Secrecy Act are codified at 31 CFR Chapter X