AFMLS Chief a Strong Contender to Replace Outgoing FinCEN Director, Say Sources

By Colby Adams and Brian Monroe

The U.S. Treasury Department is considering hiring the country's top money laundering and asset forfeiture prosecutor to head the Financial Crimes Enforcement Network, say sources with knowledge of departmental discussions. Since May, the department has been considering candidates to replace the bureau's Director James Freis, who was asked to step down after a 5-year tenure that oversaw a broad expansion of Bank Secrecy Act reporting regulations. Treasury Department officials have asked Freis to stay on at the bureau, known as FinCEN, until they name his replacement. Among the top remaining candidates for the job is Jennifer Shasky Calvery, chief of...