FinCEN Seeks Public Comment on Survey of AML/CFT Compliance Costs

The Financial Crimes Enforcement Network (FinCEN), part of the US Department of the Treasury, has announced plans to collect industry feedback on the financial burden of Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) compliance. A proposed survey will invite comments from both the general public and Federal agencies on the true cost of regulatory obligations faced by non-bank financial institutions.

The survey is designed to capture detailed data on the direct costs of compliance, focusing on sectors such as casinos and card clubs, money services businesses, insurers, dealers in precious metals and jewels, credit card system operators, and loan or finance companies. Where expenses overlap with other activities, such as fraud monitoring, firms will be asked to identify the proportion attributable to AML/CFT compliance specifically.

FinCEN has emphasised that responses will not be used for supervisory or enforcement purposes. Instead, the information gathered will contribute to a clearer understanding of the financial impact of AML/CFT regulations across industries. This data will support potential deregulatory proposals, aligning with Executive Orders under the Trump Administration that call for a reassessment of regulatory cost burdens.

Written comments must be submitted by 1 December 2025. FinCEN’s call for feedback underscores the agency’s ongoing efforts to balance the need for strong financial crime controls with the operational and financial realities of regulated entities.

Read the notice here.