The Financial Crimes Enforcement Network (FinCEN), the U.S. Treasury's anti-money-laundering (AML) arm, plans to deliver this spring a cost-benefit analysis on a long-simmering initiative requiring that cross-border wire transfers be reported to a central data warehouse. When the results will be made public, however, is not yet clear.
"The information will be made available to senior FinCEN and Treasury officials and any decision to go forward will be made at the department level," said FinCEN spokesperson Steve Hudak. "I'm confident that the results of our cost-benefit study will be made public. I don't have a timetable for how quickly."
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