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Aggregated News From Investment Management Regulators


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FinCEN’s Rapid Response Program Aids in Recovering More Than $1.1B Since Inception

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The Financial Crimes Enforcement Network (FinCEN) has issued a fact sheet on its Rapid Response Program (RRP)—a collaborative partnership that leverages FinCEN’s relationships with law enforcement, U.S. financial institutions, and foreign financial intelligence units to help victims and their financial institutions recover funds stolen as the result of certain cyber-enabled financial crimes schemes, including business e-mail compromise.  The fact sheet provides information on the program and emphasizes that victims of cyber-enabled crimes, or victims’ financial institutions must file a complaint with law enforcement to initiate the RRP process.  Through these collaborative efforts, FinCEN has successfully assisted in the recovery of over $1.1 billion since the program’s inception in 2015.

This news item was originally published by the Financial Crimes Enforcement Network (FinCEN US). For more information, please see the Source Link.

Regulator Information

Abbreviation: FinCEN
Jurisdiction: United States

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