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In May 1994, its mission was broadened to include regulatory responsibilities. Today, FinCEN is one of Treasury's primary agencies to oversee and implement policies to prevent and detect money laundering. This is accomplished in two ways.

To sum up the differences: FinCEN guards against money laundering by interpreting data about financial crimes and keeping government agencies informed; The IRS collects taxes by regulating and adhering to the Internal Revenue Code.

Voluntary FinCEN SAR Filings: Financial institutions may also file with FinCEN a report of any suspicious transaction that it believes is relevant to the possible violation of any law or regulation but whose reporting is not required by 31 CFR Chapter X.

FinCEN Currency Transaction Report (FinCEN Report 112) FinCEN Designation of Exempt Person (FinCEN Report 110) FinCEN Suspicious Activity Report (FinCEN Report 111)

FinCEN's mission is to safeguard the financial system from illicit use and combat money laundering and promote national security through the collection, analysis, and dissemination of financial intelligence and strategic use of financial authorities.

A United States person that has a financial interest in or signature authority over foreign financial accounts must file an FBAR if the aggregate value of the foreign financial accounts exceeds $10,000 at any time during the calendar year.

As one of the world's leading FIUs, FinCEN exchanges financial information with FIU counterparts around the world in support of U.S. and foreign financial crime investigations.