FinCEN Flags More Than $8 Billion in Potentially Suspicious Payments

The Treasury Department's Financial Crimes Enforcement Network (FinCEN) identified more than $8 billion in potentially suspicious payments sent through U.S.-based money services businesses at foreign agents' direction from 2021 to 2025 and issued an alert to financial institutions. Issued Friday, Oct. 30, the alert asks financial institutions to detect, identify and report suspicious activity involving certain cross-border payments. For related suspicious activity reports (SARs), FinCEN requests the keyword FIN2026FOREIGNAGENT in field 2 and in the narrative. The figure comes from Bank Secrecy Act (BSA) reporting. Those filings provide investigative leads, not proof that a crime occurred.

Source: TokenPost