Money Laundering:

Treasury's Financial Crimes Enforcement Network

GGD-91-53: Published: Mar 18, 1991. Publicly Released: Apr 25, 1991.

Additional Materials:


Office of Public Affairs
(202) 512-4800

Pursuant to a congressional request, GAO reviewed the Department of the Treasury's newly established Financial Crimes Enforcement Network (FinCEN), focusing on its purpose, functions, organization, and staffing.

GAO found that: (1) Treasury established FinCEN to support federal, state, local, and foreign law enforcement offices in their efforts to investigate and prosecute money laundering schemes; (2) FinCEN provided intelligence analysis that identified money laundering trends and patterns as well as specific offenders; (3) FinCEN provided specially trained investigators to document money laundering violations and trace the criminal activity proceeds; (4) FinCEN operated a communications center that answered law enforcement agencies' requests for data and information; (5) FinCEN helped to coordinate the efforts of other law enforcement agencies and prevent duplication of effort; (6) FinCEN needed to improve its effectiveness in money laundering investigations by centralizing intelligence gathering and analysis; (7) FinCEN success will ultimately be measured by the extent to which other agencies rely upon it for and use timely and accurate information; and (8) although FinCEN was in the process of measuring its usefulness, it had not been in existence long enough to permit an accurate assessment.

Mar 20, 2018

Mar 13, 2018

Mar 12, 2018

Feb 15, 2018

Feb 8, 2018

Feb 2, 2018

Jan 8, 2018

Dec 21, 2017

Dec 13, 2017

Nov 6, 2017

Looking for more? Browse all our products here