The U.S. Treasury Department's top financial intelligence official made his case to lawmakers Wednesday for a four percent budget increase to better administer sanctions against entities linked to illicit finance. In a hearing, Undersecretary for Terrorism and Financial Intelligence David Cohen told members of the Senate Appropriations Committee that the $4 million increase requested by the White House "should allow us to pursue our mission completely." The appropriation would bring the Office of Terrorism and Financial Intelligence's fiscal year 2015 budget to $106 million. The office, known as TFI, will use over 85 percent of the funds to comply with...
German auto maker Daimler AG learned that it remained a target for foreign bribery charges by the U.S. Justice Department, an alleged Russian arms dealer who was the inspiration for the movie "Lord of War" was sentenced to 25 years in prison, and more, in the weekly roundup.
The Senate Thursday named David Cohen the nation's top sanctions official after legislators agreed to end a standoff over the U.S. Treasury Department's implementation of financial measures aimed at Iran.
While crediting financial sanctions with stemming funding for Al Qaeda, U.S. Treasury official David Cohen said that the Taliban was in much stronger financial shape because of income from extorting poppy farmers and drug traffickers and "protection" money from legitimate Afghan businesses.