Financial Crimes Enforcement Network 

Program Summary by Budget Activity

Dollars in Thousands 

 FY 2021 FY 2022 FY 2023 FY 2022 to FY 2023 

Budget Activity Operating Plan Annualized 

CR Request $ Change % Change 

BSA Administration and Analysis $126,963 $126,963 $210,330 $83,367 65.66% 

Subtotal, Organization Title $126,963 $126,963 $210,330 $83,367 66% 

Reimbursable $1,941 $3,500 $3,500 $0 0.00% 

Recoveries from Prior Years $2,337 $0 $0 $0 NA 

Unobligated Balances Brought Forward $29,444 $19,704 $2,817 ($16,887) -85.70% 

Transfers In/Out (TEOAF) $6,728 $22,500 $6,250 ($16,250) -72.22% 

Total Program Operating Level $40,450 $45,704 $12,567 ($33,137) 100.00% 

Direct FTE 269 285 420 135 47.37% 

Reimbursable FTE 2 3 3 0 0.00% 

Total Full-time Equivalents (FTE) 271 288 423 135 46.88% 

Summary 

The mission of the Federal Crimes Enforcement Network (FinCEN) is to safeguard the financial 

system from illicit use, combat money laundering and its related crimes including terrorism, and 

promote national security through the strategic use of financial authorities and the collection, 

analysis, and dissemination of financial intelligence. FinCEN is the primary Federal regulator 

and the administrator for the Bank Secrecy Act (BSA), which is part of the comprehensive legal 

architecture in the fight against money laundering and its related crimes. FinCEN plays two key 

roles in the U.S. financial regulatory, anti-money laundering and countering the financing of 

terrorism framework:

 First, FinCEN is the primary regulator and the administrator of the BSA, which is part of the 

comprehensive legal architecture in the fight against money laundering and its related crimes. 

FinCEN, through its administration of the BSA, is a global leader in both regulating money 

transmission, including that involving convertible virtual currency and has taken action 

against its illicit use.

 Second, FinCEN is the Financial Intelligence Unit, or FIU, of the United States.

The January 1, 2021 enactment of the Anti-Money Laundering Act of 2020, or AMLA, included 

the Corporate Transparency Act (CTA), which establishes uniform beneficial ownership 

reporting requirements for corporations, LLCs, and other similar legal entities. Essentially, the 

CTA requires FinCEN to create the United States’ first-ever corporate registry. The AMLA also 

requires several significant rulemakings, numerous Congressional reports and assessments, and 

specific programs that require extensive resources. 

The FY 2023 President’s Budget requests additional resources totaling $83,367,000 above 2021 

enacted, including for the implementation of the FY 2021 Anti-Money Laundering 

Act/Corporate Transparency Act (AMLA/CTA) of the William M. (Mac) Thornberry National 

Defense Authorization Act (NDAA) and to increase staffing in the Office of Chief Counsel. 
Budget Highlights 

Dollars in Thousands 

 FTE Amount 

FY 2022 Annualized CR 285 $126,963 

Changes to Base: 

Maintaining Current Levels (MCLs): 0 $5,401 

Pay Annualization (2.7% average pay raise) 0 $462 

Pay Raise (4.6% average pay raise) 0 $2,377 

Non-Pay 0 $2,562 

Other Adjustments: 10 $28,887 

Adjustment to Meet Operating Levels 10 $28,887 

Subtotal Changes to Base 10 $34,288 

FY 2023 Current Services 295 $161,251 

Program Changes: 

Program Increases: 125 $49,079 

AMLA/CTA Implementation 115 $46,359 

Increase Office of Chief Counsel Staff 10 $2,720 

FY 2023 President's Budget Request 420 $210,330 

Budget Adjustments 

Adjustments to Request 

Maintaining Current Levels (MCLs).........................................................+$5,401,000 / +0 FTE 

Pay Annualization (2.7%) +462,000 / +0 FTE 

Funds are requested for annualization of the January 2022 2.7% average pay raise. 

Pay Raise (4.6% in FY 2023) +$2,377,000 / +0 FTE 

Funds are requested for a 4.6% average pay raise in January 2023. 

Non-Pay +$2,562,000 / +0 FTE 

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

equipment. 

Other Adjustments..............................................................+$28,887,000 / +10 FTE 

Adjustment to Meet Operating Levels +$28,887,000 / +10 FTE 

Funds are requested to meet operating levels in FY 2023, which includes IT infrastructure 

expansion and enhancements to support beneficial ownership secure system operations and 

maintenance. 

Program Increases ................................................................................+$49,079,000 / +125 FTE 

AMLA/CTA Implementation +$46,359,000 / +115 FTE 

The enactment of the FY 2021 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/CTA 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. 

Timely and effective AMLA and CTA implementation will be challenging and continues to be 

FinCEN’s top priority, and we are working diligently with our 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. 

Increase Office of Chief Counsel Staff +$2,720,000 / +10 FTE 

The Office of Chief Counsel staff increase commensurate with FinCEN’s workload. 

Legislative Proposals 

FinCEN has no legislative proposals. 

Performance Highlights FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 

Budget Activity Performance Measure Actual Actual Actual Target Target 

BSA Administration and Analysis 

Percentage of Domestic Law 

Enforcement and Regulators Who Assert 

Queried BSA Data Led to Detection and 

Deterrence of Illicit Activity (%) 

92 90 93 90 90

BSA Administration and Analysis 

Percentage of Users Satisfied with 

FinCEN Information Sharing Systems 

(%) 

89 88 87 85 85

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 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. 

The final performance measure is based on survey responses and represents user satisfaction 

with the BSA E-Filing 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 that include, where appropriate, 

Treasury’s Office of Terrorism and Financial Intelligence (TFI) access to a query system 

containing 16 years of BSA data. FinCEN also provides foreign FIUs in the Egmont Group with 

a secure system for exchanging financial intelligence to combat money laundering and terrorist 

financing.