I will discuss the following five things:

* How we use the Bank Secrecy Act (BSA) data, particularly as it relates to filings involving convertible virtual currency (CVC);

* The status of our BSA Value Project;

* The importance of beneficial ownership information;

* Our ongoing federal banking agency working group efforts, and what we have accomplished so far; and

* Some significant organizational changes within FinCEN to help us improve stakeholder engagement and leverage our authorities to counter illicit actors.

I know many of you have heard me talk about how we use BSA data before, but it bears repeating.

You need to hear and understand that what you do every day makes a difference. We use the information that you provide to protect our national security, our financial system, our communities and our families.

Your reporting contributes critical information that is routinely analyzed, resulting in the identification of suspected criminal and terrorist activity, and the initiation of investigations.