News

House lawmakers agreed to appropriate $210 million to the U.S. Financial Crimes Enforcement Network for fiscal year 2023, meeting the bureau's request for a 30 percent budget boost to cover implementation of a congressionally mandated anti-money laundering overhaul. FinCEN published plans in March to raise its current headcount of 285 full-time employees to 420 in the months ahead, and assign no fewer than 115 staffers to implementing the Anti-Money Laundering Act, or AMLA. The bill, enacted Jan. 1 of last year, requires the bureau to build a database of beneficial owners, create a new whistleblower program and carry out several...