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News/Compliance & Enforcement/White House Requests 50% Larger FinCEN Budget to Support Ownership Registry
News·Compliance & Enforcement Brief

White House Requests 50% Larger FinCEN Budget to Support Ownership Registry

The Biden Administration's budget request for the Treasury Department includes an increase of about 50 percent – $64 million – for the Financial Crimes Enforcement Network (FinCEN), which is tasked with building a complex corporate ownership registry meant to help authorities identify anonymous shell companies and track the flow of illicit money.

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