The U.S. Treasury Department has failed to answer congressional inquiries concerning allegedly questionable hiring practices by the nation's financial intelligence unit, a Republican lawmaker said Tuesday.
Efforts to ramp up the U.S. financial intelligence unit's enforcement of the Bank Secrecy Act have run into a longstanding hurdle: the bureau's reliance on financial regulators for case leads.
A decision by the U.S. Treasury to reshape the nation's financial intelligence unit has spurred serious concerns about the direction of the agency.
When FinCEN restructured its reporting hierarchy, the bureau signaled a subtle but important shift for banks: some of the energy it had once spent toward improving compliance would now serve to penalize regulatory violators, says former Assistant Director for the Office of Compliance Tom Fleming.
The U.S. Treasury Department is readying a program to share intelligence from law enforcement agencies with the banks charged with identifying suspicious transactions, an official said Thursday.
The U.S. Treasury Department's financial intelligence unit is hiring three top-ranking officials as part of a restructuring announced in June.
The nation's primary financial intelligence unit has been structurally reorganized to better integrate how the bureau analyzes and shares data on money laundering and other crimes, its director said Monday.
The U.S. Treasury Department is nearing completion of a plan to use predictive analytics software to analyze regulatory data and identify possible financial crimes, an official said Tuesday.
Four months into the tenure of its new director, the nation's financial intelligence unit is positioning itself to more aggressively enforce anti-money laundering regulations and closely work with law enforcement officials.
The director of the U.S. financial intelligence unit and prominent Bank Secrecy Act officers have formed a group to discuss whether efforts to combat money laundering at times miss their mark.
A former director of the nation's financial intelligence unit will join the Washington, D.C. office of Cleary Gottlieb Steen & Hamilton LLP as of counsel, the law firm said Monday.
The nation's financial intelligence unit will relocate dozens of employees from its current Virginia headquarters to Washington, D.C. as part of an effort to better integrate with other U.S. Treasury Department offices.
The U.S. Justice Department's top anti-money laundering enforcer will lead the Financial Crimes Enforcement Network beginning next month, the bureau said Monday.
The next head of the nation's financial intelligence unit will face pressure to revamp its rule-writing process, complete a database overhaul and improve the bureau's rapport with financial institutions, sources say.
James H. Freis, the director of the U.S. financial intelligence unit, was dismissed Thursday, ending a 5-year tenure that oversaw the drafting of the toughest anti-money laundering regulations since the passage of the U.S. Patriot Act.