Snapshot:
On June 12, 2026, FinCEN issued updated guidance clarifying how financial institutions can share information to identify and combat fraud under Section 314(b) of the USA PATRIOT Act. The update reinforces information sharing as a key tool in detecting and disrupting fraud schemes.
Why it Matters:
This signals increased regulatory focus on fraud as a primary risk area within AML programs. Financial institutions may face higher expectations to actively participate in information-sharing networks and use peer intelligence to identify emerging fraud patterns. For BSA/AML teams, this is a strong reminder to review 314(b) participation, controls, and documentation.
Official Source:
FinCen Press Release – June 12, 2026 Update | fincen.gov