On December 22, 2025, FinCEN announced a multi-tiered operation targeting more than 100 U.S. money services businesses (MSBs) operating along the southwest border to look for potential non-compliance with regulations designed to detect money laundering and combat illicit finance. According to FinCEN, the operation resulted in the issuance of six notices of investigation, dozens of examination referrals to the Internal Revenue Service (IRS), and over 50 compliance outreach letters.
With a focus on protecting Americans from potential risks, FinCEN’s initiatives are based on extensive data analysis, including over one million Currency Transaction Reports and 87,000 Suspicious Activity Reports submitted by financial institutions to FinCEN. The ongoing operation involves imposing civil money penalties, pursuing injunctive actions, issuing warning letters, and making criminal referrals for willful BSA violations.
FinCEN is collaborating with various agencies, including the Homeland Security Task Force and the IRS, to strengthen enforcement. The use of advanced technology and data processing has helped FinCEN's capability to uncover illicit financial networks and enhance the safety of the U.S. financial system.
Read the Treasury’s press release here.