Treasury Announces Creation of Office of Terrorism and Financial Intelligence
The U.S. Department of Treasury announced this week the creation of the Office of Terrorism and Financial Intelligence (TFI). TFI will be led by an under secretary, which will be one of only three within the Treasury Department.
TFI will coordinate the efforts of the Executive Office of Terrorist Financing and Financial Crimes, the Financial Crimes Enforcement Network (FinCEN), and the Office of Foreign Assets Control (OFAC). The Office will focus on the curtailment of terrorist finance, the maintenance of the integrity of the financial system, fighting financial crime, and enforcing economic sanctions against rogue nations.
The creation of the office is expected to strengthen Treasury’s assets in a number of regards. This includes enhancing intelligence analysis, augmenting enforcement efforts, and improving international cooperation.
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