Financial Crimes Enforcement Network

The Financial Crimes Enforcement Network (FinCEN), a bureau within the US Department of the Treasury, collects and analyses information about financial transactions in order to combat money laundering, terrorist financing and other financial crimes, both domestically and internationally.

FinCEN's mission is to protect the financial system from illicit activity, combat money laundering and the financing of terrorism, and promote national security by strategically using financial authorities and collecting, analysing, and disseminating financial intelligence.

The primary responsibilities of the Financial Crimes Enforcement Network (FinCEN) include:

1. Collecting, analysing and disseminating financial transaction data to support law enforcement, regulatory and national security efforts;
2. Implementing and enforcing anti-money laundering (AML) and counter-terrorism financing (CFT) regulations under the Bank Secrecy Act (BSA);
3. Requiring certain financial institutions, including money services businesses (MSBs) and some foreign exchange dealers, to register with FinCEN and comply with reporting and record-keeping obligations.
4. Coordinating with domestic and international counterparts to combat financial crime.

It is important to note that FinCEN does not regulate forex dealers in terms of their market conduct, capital requirements, or consumer protection. While some forex dealers must register with FinCEN as MSBs for AML/CFT compliance, their broader operational and prudential oversight is the responsibility of other regulators, such as the Commodity Futures Trading Commission (CFTC) or the National Futures Association (NFA). Therefore, FinCEN's role is limited to financial intelligence and BSA compliance, rather than comprehensive regulatory supervision.

In general, the FinCEN-registered broker profile can be found on the MSB Registrant Search page. Try to find it and check whether the information on the broker profile matches that on the broker's website.

The detailed steps are as follows:

1. Find the MSB registration number or legal name of the broker, which you can find on their website.

2. Enter the MSB registration number or legal name into the search bar at https://www.fincen.gov/resources/msb-state-selector.

3. You will then see a brief profile of the broker on the FinCEN website. Click the broker's name to download the document and check its registration details, including its authorised MSB activities.

When you have disputes with a FinCEN-registered broker, you can proceed the following ways:

1st way: The recommended way is to contact the broker directly and discuss with them to find a solution.

2nd way: If you're not satisfied with the broker's solution, you may contact FinCEN through: https://assistance.fincen.gov/contact/s/.