Financial Crimes Enforcement Network 

Program Summary by Budget Activity

Dollars in Thousands 

 FY 2020 FY 2021 FY 2022 FY 2021 to FY 2022 

Budget Activity Operating Plan Operating 

Plan2 Request $ Change % Change 

BSA Administration and Analysis $126,000 $126,963 $190,539 $63,576 50.07% 

Subtotal, Organization Title $126,000 $126,963 $190,539 $63,576 50.00% 

Offsetting Collections - Reimbursable $1,613 $6,000 $6,000 $0 0.00% 

Recovery from Prior Years $143 $0 $0 $0 NA 

Unobligated Balances Brought Forward $26,416 $29,000 $29,000 $0 0.00% 

Total Program Operating Level $154,172 $161,963 $225,539 $63,576 39.3% 

Direct FTE 264 300 380 80 26.67% 

Reimbursable FTE 1 3 3 0 0.00% 

Total Full-time Equivalents (FTE) 265 303 383 80 26.40% 

Summary 

The Federal Crimes Enforcement Network (FinCEN) is the primary Federal regulator for the 

Bank Secrecy Act (BSA) and is responsible for the regulations and implementation of the nonpublic database of ownership and/or effective control of firms (i.e. beneficial ownership) 

pursuant to the Corporate Transparency Act (CTA). The mission of FinCEN is to safeguard the 

financial system from illicit use, combat money laundering, and promote national security 

through the strategic use of financial authorities and the collection, analysis, and dissemination 

of financial intelligence. 

The FY 2022 President’s Budget requests additional resources totaling $63,576,000, providing 

$60,279,000 for the implementation of the Anti-Money Laundering Act/Corporate Transparency 

Act (AMLA/CTA) of the William M. (Mac) Thornberry National Defense Authorization Act for 

Fiscal Year (FY) 2021 and $87,000 for the leasing of electric vehicles and purchase of associated 

infrastructure. 
Budget Highlights 

Dollars in Thousands 

 FTE Amount 

FY 2021 Operating Plan 300 $126,963 

Changes to Base: 

Maintaining Current Levels (MCLs): 0 $3,210 

Pay Annualization (1.0% average pay raise) 0 $137 

Pay Raise (1.0% average pay raise) 0 $1,109 

FERS Contribution Increase 0 $517 

Non-Pay 0 $1,447 

Subtotal Changes to Base 0 $3,210 

FY 2022 Current Services 300 $130,173 

Program Changes: 

Program Increases: 80 $60,366 

FinCEN AMLA/CTA Implementation* 80 $60,279 

Purchase of Electric Vehicles and Associated Infrastructure 0 $87 

FY 2022 President's Budget Request 380 $190,539 

*Amounts shown reflect enacted appropriations for 2021, which do not include dedicated funding for 

development of the beneficial ownership data system and CTA implementation. However, FY 2022 

staffing does assume funding, yet to be identified, is provided for this purpose in 2021. FY 2022 staffing 

does assume funding, yet to be identified, is provided for this purpose in 2021. FinCEN estimates a total 

of 131 new positions will be needed for full implementation of the CTA and Anti-Money Laundering Act 

(P.L. 116-283). 

Budget Adjustments 

Adjustments to Request 

Maintaining Current Levels (MCLs) ..........................................................+3,210,000 / +0 FTE 

Pay Annualization (1.0%) +137,000 / +0 FTE 

Funds are requested for annualization of the January 2021 1.0% average pay raise. 

Pay Raise (2.7% in 2022) +$1,109,000 / +0 FTE 

Funds are requested for a 2.7% average pay raise in January 2022. 

FERS Contribution Increase +$517,000 / +0 FTE 

Funds are requested for the Federal Employee Retirement System (FERS) contribution rates 

effective FY 2022. 

Non-Pay +$1,447,000 / +0 FTE 

Funds are requested for non-labor expenses such as travel, contracts, rent, supplies, 

and equipment. 

Program Increases ..............................................................................+$60,366,000 / +80 FTE 

FinCEN AMLA/CTA Implementation +$60,279,000 / +80 FTE 

The enactment of the FY 2021 National Defense Authorization Act (NDAA) included significant 

reforms to the U.S. anti-money laundering and countering the financing of terrorism (AML/CFT) 

regime through the AMLA and the CTA. 
The AMLA seeks to strengthen, modernize, and streamline the existing AML/CFT regime by 

promoting innovation, regulatory reform, and industry engagement through forums, such as the 

Bank Secrecy Act Advisory Group (BSAAG) and FinCEN Exchange. The AMLA calls for 

FinCEN to work closely with our regulatory, national security, and law enforcement partners to 

identify risks and priorities and provide valuable feedback to our industry partners. 

Within the AMLA, the CTA establishes uniform beneficial ownership reporting requirements for 

corporations, limited liability companies, and other similar entities formed or registered to do 

business in the United States. The CTA provides FinCEN with the authority to collect that 

information and share it with authorized government authorities and financial institutions, 

subject to effective safeguards and controls. To that end, FinCEN will use this funding to 

develop and maintain a data system for the reporting of information on beneficial ownership, 

collecting and securing the data, and creating access protocols. 

The AMLA and the CTA together set forth approximately 40 rulemaking or other requirements, 

including periodic Congressional reporting on implementation efforts, assessments, and 

findings. Some key requirements include: 

1. Establishing standards for the reporting of information on beneficial ownership, building an 

information technology system to collect and secure the data, and creating access protocols; 

2. Establishing national anti-money laundering and countering the financing of terrorism 

priorities; 

3. Enhancing the whistleblower provisions to provide for a robust whistleblower program and 

new anti-retaliation protections; 

4. Reviewing, and revising as appropriate, Currency Transaction Report (CTR) and Suspicious 

Activity Report (SAR) reporting requirements, and other existing Bank Secrecy Act (BSA) 

regulations and guidance; 

5. Expanding BSA requirements and obligations to persons engaged in the trade of antiquities, 

and mandating a study on the potential expansion of BSA requirements to persons engaged in 

the art trade; 

6. Codifying the FinCEN Exchange program; 

7. Hosting a Financial Crimes Tech Symposium, and establishing two new BSAAG 

subcommittees to enhance public-private partnerships in the areas of innovation and 

technology as well as information security; 

8. Establishing a BSA Analytical Hub; 

9. Law enforcement reporting to FinCEN on the use of BSA data, procedures for additional 

feedback between FinCEN and financial institutions on the usefulness of SARs, and semiannual publication of review of SAR activity and other BSA reports, including threat 

patterns, trends, and typologies; and 

10. Codifying a pilot program to allow financial institutions to share SARs with their foreign 

branches, subsidiaries, and affiliates. 

Timely and effective AMLA and CTA implementation will be challenging and is FinCEN’s top 

priority, and we are working diligently with our domestic and international industry partners and 

law enforcement and regulatory stakeholders to implement these numerous provisions to further 

the national security and innovative strength of the United States and protect the American 

people. 
The January 1, 2021, enactment of the AMLA and CTA did not come with accompanying 

funding, and FinCEN has been diverting existing resources to meet the rigorous deadlines set 

forth in the legislation. Therefore, in order to meet this new, expansive statutory mandate, 

FinCEN requests this significant program increase to fund the FTE positions and information 

technology systems needed to effectively implement the AMLA and CTA. 

Purchase of Electric Vehicles and Associated Infrastructure +$87,000 / +0 FTE 

Following the lead from Executive Order (E.O.) 14008, “Tackling the Climate Crises at Home 

and Aboard”, the U.S. Department of the Treasury joins in the Administration’s priority to 

develop a comprehensive plan to create good jobs and stimulate clean energy industries by 

revitalizing the Federal Government’s sustainability efforts. This includes Treasury’s 

commitment to use all available procurement authorities to augment its Department-wide fleet 

management program with a continued focus on the leasing of electric vehicles (EV) and 

purchasing, installing, and maintaining essential infrastructure. The planned resources will help 

Treasury comply with the requirements set forth by E.O. 14008 and reduce the carbon footprint 

of emissions into the atmosphere by acquiring an updated fleet of zero-emissions vehicles that 

can support mission operations. 

For FY 2022, the Financial Crimes Enforcement Network (FinCEN) will receive $87,000 to fund 

the full conversion of its fleet to EV. Of that money, approximately $25,000 will be allocated to 

the purchase, installation, maintenance, and/or upgrade of infrastructure required to maintain an 

EV fleet management program. Additionally, FinCEN will purchase one additional charging 

station to support its future EV state. Currently, FINCEN has a total of four vehicles in its fleet, 

of which two are EVs. 

Legislative Proposals 

FinCEN has no legislative proposals. 

Performance Highlights 

Description of Performance 

FinCEN conducts four annual surveys of the BSA user-facing systems, information sharing tools 

and to assess the value of FinCEN’s data and analysis. The results provide valuable feedback on 

FY 2018 FY 2019 FY 2020 FY 2021 FY 2022

BSA Administration and Analysis

Percentage of Domestic 

Law Enforcement and 

Regulators Who Assert 

Queried BSA Data Led to 

Detection and Deterrence 

of Illicit Activity

85% 92% 90% 89% 90%

BSA Administration and Analysis

Percentage of Users 

Satisfied with FinCEN 

Information Sharing 

Systems

86% 89% 88% 85% 85%

Budget Activity Performance Measure Actual Actual Actual Target Target
FinCEN’s performance safeguarding the financial system from illicit use, combatting money 

laundering, and promoting national security. 

Additionally, FinCEN monitors the percentage of domestic law enforcement and regulators who 

assert that queried BSA data led to the detection and deterrence of illicit activity. The survey 

looks at the value of FinCEN data, such as whether the data provided unknown information; 

supplemented or expanded known information; verified information; helped identify new leads; 

opened a new investigation or examination; supported an existing investigation or examination; 

or, provided information for an investigative or examination report. In FY 2020, FinCEN 

surpassed its target of 88 percent with 90 percent asserting the queried BSA data led to the 

detection and deterrence of illicit activity. FinCEN achieved this performance by expanding its 

FinCEN Portal and Query training efforts and supplementing that training by posting useful, 

mission-oriented material on FinCEN Portal. In FY 2021, FinCEN will continue to expand its 

training efforts and content to provide the FinCEN Portal and FinCEN Query user community 

with the information they need to successfully enhance their investigative efforts. In FY 2021, 

the target is set at 89 percent and in FY 2022 at 90 percent. 

This measure is based on survey responses and represents user satisfaction with the BSA EFiling System, FinCEN Query, and the Egmont Secure Web (ESW). Starting with industry, 

FinCEN collects and maintains BSA reports filed by financial institutions and other filers. In 

turn, FinCEN provides authorized users (including Treasury components) access to a query 

system containing 15 years of BSA data. FinCEN also provides foreign Financial Intelligence 

Units in the Egmont Group with a secure system for exchanging financial intelligence to combat 

money laundering and terrorist financing. This measure is meaningful because the technology 

allows authorized persons to more readily access BSA information and better enable them to 

conduct investigations more efficiently and effectively. In FY 2020, FinCEN exceeded its target 

of 84 percent with 88 percent of the users satisfied with information sharing systems. FinCEN 

attributes the increase to specific customer service support provided to the Egmont Group with 

tasks, such as improving the content management organization and how users access much of the 

content within the ESW. FinCEN recently completed a technology refresh of ESW and is 

targeting completion of a technology refresh of the FinCEN Portal and Query applications in FY 

2021. These efforts will make significant updates to the underlying technologies and bring about 

some enhanced capabilities to the user community for the Portal/Query applications. Since we 

anticipate some learning curve associated with these updates, the targets are set at 85 percent for 

FY 2021 and FY 2022.