The Financial Crimes Enforcement Network (FinCEN) is part of the US Treasury Department where it reports to the Office of Terrorism and Financial Intelligence. FinCEN’s mission is to "safeguard the financial system from illicit use and combat money laundering and promote national security through the collection, analysis, and dissemination of financial intelligence and strategic use of financial authorities."
Last week, FinCEN's Director Jennifer Shasky Calvery spoke at the National Cyber-Forensics Training Alliance's CyFIN 2013 Conference in Pittsburgh. In her speech, she reviewed the activities of FinCEN in detail - from where it gets its data, its analysis process, and the upgrades it's been making to further improve its capabilities to fulfill its mission.
In addition, Calvery discussed FinCEN's work with respect to emerging payment systems - including "crypto-currencies" and virtual currencies, along with discussing FinCEN's work addressing account takeovers - particularly of small business accounts - and dealing with third-party payment processors. She's also leading FinCEN's efforts to form stronger partnerships with industry, regulatory, law enforcement, and international partners.
Director Calvery's speech is frankly a "must read" for anyone involved in emerging payments initiatives in the US. A PDF version of her speech is available for download from the FinCEN web site.