By: Steve Hudak

7/2/2012

A new requirement to electronically file Financial Crimes Enforcement Network (FinCEN) forms became effective on July 1, 2012. This will result in significant savings for the U.S. Government, financial institutions, and ultimately for the U.S. taxpayers. Mandatory E-Filing will also enhance the quality of FinCEN’s electronic data, improve its analytical capabilities, and ultimately it will make it quicker and easier for law enforcement to track criminal money.