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As FinCEN Readies Unprecedented Fines, Questions Arise About Its Hiring Authority
By Colby Adams and Brian Monroe
printCLARIFICATION APPENDED: At the same time that the nation's financial intelligence unit is readying unprecedented fines against compliance officers, the agency is facing stark questions about its enforcement efforts, including its hiring practices. As part of an ongoing project to bolster its regulatory oversight, the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) is preparing two fines against financial executives who have allowed criminals to exploit their institutions, multiple individuals with direct knowledge of the matter told ACAMS Moneylaundering.com. The bureau is targeting Tom Haider, the former chief compliance officer at MoneyGram International Inc., and another individual at a second...
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