The Financial Crimes Enforcement Network is a bureau of the US Department of the Treasury. FinCEN's mission is to safeguard the financial system from illicit use, combat money laundering, and promote national security. While FinCEN does not regulate forex dealers in terms of market conduct or consumer protection, forex dealers must register with FinCEN as Money Services Businesses.
About FinCEN
The Financial Crimes Enforcement Network (FinCEN) is a bureau of the United States Department of the Treasury, established in 1990 to safeguard the financial system from illicit use and combat money laundering. FinCEN administers the Bank Secrecy Act (BSA), which requires financial institutions, including forex dealers, to maintain records and file reports that are essential for law enforcement to detect and prevent financial crimes.
Important Note
FinCEN does not regulate forex dealers in terms of market conduct, capital requirements, or consumer protection. Broader operational oversight is the responsibility of the CFTC and NFA. However, forex dealers must register with FinCEN as Money Services Businesses (MSBs) and comply with anti-money laundering requirements, making FinCEN registration an important part of the overall US regulatory framework.
- Money Services Business (MSB) registration requirements
- Anti-money laundering compliance obligations
- Bank Secrecy Act reporting requirements
- Suspicious activity reporting framework
FinCEN handles AML/CFT compliance only. Not a market conduct regulator. Works alongside CFTC/NFA.
Related Regulators
CFTC
AAATier 1Commodity Futures Trading Commission
The Commodity Futures Trading Commission is an independent agency of the United States Government that regulates the US derivatives markets, including futures, swaps, and certain kinds of options. Established in 1975, the CFTC enforces one of the world's strictest regulatory frameworks for forex trading, with capital requirements that far exceed most international standards.
NFA
AATier 1National Futures Association
The National Futures Association is the industry-wide, self-regulatory organisation for the US derivatives industry. Working in partnership with the CFTC, the NFA develops rules, programmes, and services to safeguard market integrity, protect investors, and help its members fulfil their regulatory obligations. NFA membership is mandatory for all entities conducting futures and forex business in the United States.
CIMA
ATier 2Cayman Islands Monetary Authority
The Cayman Islands Monetary Authority is the regulatory body responsible for the supervision of financial services businesses in the Cayman Islands. Established in 1997, CIMA regulates banks, insurance companies, mutual funds, money service businesses, and securities investment firms within one of the world's most prominent international financial centres.
BMA
ATier 2Bermuda Monetary Authority
The Bermuda Monetary Authority is the integrated regulatory authority for the financial services sector in Bermuda. Established in 1969, the BMA supervises, regulates, and inspects financial institutions operating in or from Bermuda, including banks, investment businesses, insurance companies, and trust companies.
BCB
ATier 3Central Bank of Brazil
The Central Bank of Brazil (Banco Central do Brasil) is Brazil's monetary authority, responsible for monetary policy, currency issuance, financial system supervision, and foreign exchange market regulation. Established in 1964, the BCB plays a central role in regulating one of Latin America's largest and most dynamic financial markets.
BVI FSC
COffshoreBritish Virgin Islands Financial Services Commission
The British Virgin Islands Financial Services Commission is the regulatory authority responsible for the regulation, supervision, and inspection of financial services in the British Virgin Islands. Established in 2001, the BVI FSC oversees banking, insurance, fiduciary services, and investment business within the territory.