On 2/14/2022, FinCEN issued a fact sheet on its Rapid Response Program (RRP). RRP is a collaborative partnership that leverages FinCEN’s relationships with law enforcement, U.S. financial institutions, and foreign financial intelligence units to help victims and their financial institutions recover funds stolen as the result of certain cyber-enabled financial crimes schemes, including business e-mail compromise.

The fact sheet describes the RRP program and includes the operational flow of RRP. The information sheet emphasizes that victims of cyber-enabled crimes, or victims' financial institutions, are required to file a complaint with law enforcement to initiate the process. The fact sheet also included the following:

Information to provide to law enforcement to activate the RRP;
Additional secondary information useful in recovering funds but not required to activate the RRP; and
Additional optional information useful for intelligence, enforcement, and detecting trends and typologies.

According to the release, FinCEN was able to successfully assist in the recovery of over $1.1 billion since the program’s inception in 2015.

Read the FinCEN’s full release here.

The RRP fact sheet can be found here.

Adam Witmer

Adam Witmer is a speaker, author, and founder of the Compliance Cohort. Adam has taught hundreds of seminars and training sessions to thousands of bankers throughout the United States and teaches on all areas of regulatory compliance. Adam has written five e-books that he never published, hit a grizzly bear while driving in a National Park, and is an award winning photographer and musician (though he no longer takes photos nor plays any instruments). In his spare time, Adam can be found kayaking on the lake, doing taekwondo with his kids, working on his (project) house, or spending time with his family.

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