Need to file a Beneficial Ownership Information Report?

Many companies are required to report information to FinCEN about the individuals who ultimately own or control them.

FinCEN began accepting reports on January 1, 2024.

Today, FinCEN joined the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency (together, the “Agencies”) in issuing a joint statement on the notices of proposed rulemakings that would strengthen and modernize financial institutions’ anti-money laundering and countering the financing of terrorism programs (AML/CFT Program NPRMs).

WASHINGTON—Earlier this week, Financial Crimes Enforcement Network (FinCEN) officials traveled to Miami, Florida for two events that brought together the public and private sectors for discussions on ways to deepen collaboration against the financial crime threats that devastate communities and undermine the integrity of the global financial system.

Today, the Financial Crimes Enforcement Network (FinCEN) issued a Notice to financial institutions on the methodologies, financial typologies, and red flag indicators associated with timeshare fraud orchestrated by Mexico-based transnational criminal organizations (TCOs). Mexico-based TCOs such as the Jalisco New Generation Cartel (CJNG) are increasingly targeting U.S. owners of timeshares in Mexico through complex and often yearslong telemarketing, impersonation, and advance fee schemes.