The US Treasury’s Financial Crimes Enforcement Network has set up an 'exchange programme' to make it easier for financial institutions and the authorities to share anti-money-laundering information with one another.

FinCEN's staff no longer carry weapons or engage in on-the-ground investigations such as Operation Casablanca in the late 1990s, but on this project the governmental agency remains in close contact with those who do. FinCEN will convene regular briefings with financial institutions to exchange information - some of it 'targeted,' a word that presumably entails the mention of suspects by name - on "priority illicit finance threats." Case studies will also be used. The hope is to improve the way in which financial institutions spot risks and to encourage them to concentrate on things that the Government sees as high priorities. FinCEN and the investigators are expecting to receive "critical information" as a result.

A Treasury functionary recently told a conference that this initiative will be the start of a strong public-private partnership and the two-way sharing of information. Private-sector participation in the so-called FinCEN Exchange is strictly voluntary and FinCEN is not introducing any new rules. Operational briefings will begin shortly.

Section 314(b) USA PATRIOT (Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism) Act provides financial institutions and associations of financial institutions with a legal 'safe harbour' for sharing information with one another regarding individuals, entities, organisations and countries suspected of terrorist or money laundering activities.