News

At Hearing, Treasury’s Cohen Lays Out Case for Better Funding of U.S. Sanctions

By Colby Adams

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...

TO READ THE FULL STORY