The Financial Crimes Enforcement Network (FinCEN) has started a new information-exchange program with financial institutions, according to an announcement from the Treasury Department. 

The program, called FinCEN Exchange, will hold regular briefings with financial institutions and law enforcement to trade information about pressing illicit finance threats. The idea is to get better at identifying risks and focusing on high-priority issues that help fight money laundering and other financial crimes, according to FinCEN. Participation is voluntary and doesn't create any new regulatory requirements, it noted.

"Strong public-private partnerships and two-way information sharing is a crucial component of our efforts to combat the sophisticated money laundering methods and evolving threats we face today," Treasury Under Secretary for Terrorism and Financial Intelligence Sigal Mandelker said. "FinCEN Exchange will bring together law enforcement, FinCEN and different types of financial institutions from across the country to share information that can help identify vulnerabilities and disrupt terrorist financing, proliferation financing and other financial crimes."

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