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The U.S. Treasury Department's creation of a new unit to investigate global money laundering may herald more designations of foreign banks caught serving terrorists, nuclear proliferators and criminals, sources told ACAMS moneylaundering.com. The Global Investigations Division, or GID, will administer many unique authorities of the department's Financial Crimes Enforcement Network, including to penalize foreign financial institutions under the Patriot Act and place temporary, enhanced reporting rules on certain nonfinancial firms deemed vulnerable to illicit finance. GID will be led by Matthew Stiglitz, a former senior prosecutor in the Justice Department's Criminal Division, and absorb staff from the Office of Special...