WASHINGTON—In passing the six-bill appropriations package (H.R. 8294) for fiscal year 2023, the House has set aside $210.33 million for the Financial Crimes Enforcement Network (FinCEN).
This new appropriations budget represents a 31% increase in FinCEN’s budget over FY2022 enacted levels, and meets the amount requested by the Biden Administration in the President’s discretionary budget request earlier this year, according to the FACT Coalition.
The Senate has not yet released its draft appropriations language.
“By approving this budgetary increase for the nation’s financial crime fighters, the House of Representatives has demonstrated its commitment to safeguarding the U.S. economy from becoming a magnet for the world’s illicit funds – whether from Russian oligarchs, global kleptocrats, criminals, or U.S. adversaries. The Senate must now follow suit and approve $210.33 million for FinCEN’s fiscal year 2023 budget,” stated Ian Gary, executive director of the FACT Coalition.