In May 2010, FinCEN began efforts to modernize its information technology (IT) infrastructure to improve the collection, analysis, and sharing of FinCEN data. The list below of frequently asked questions and answers provides details on the program.
Why modernize? Technology is FinCEN's Core Mission
31 U.S.C. Bank Secrecy Act (BSA)
It is the purpose of the [BSA] to require certain reports or records where they have a high degree of usefulness in criminal, tax, or regulatory investigations or proceedings, or in the conduct of intelligence or counterintelligence activities, including analysis, to protect against international terrorism.
§ 5319 - availability of this information to other agencies
Treasury Order 180-01 delegates BSA authority to FinCEN Director
(B) Maintain a government-wide data access service, with access, in accordance with applicable legal requirements, to the following:
(i) Information collected by the Department of the Treasury, including report information filed under [the BSA]