The U.S. Treasury Department has failed to answer congressional inquiries concerning allegedly questionable hiring practices by the nation's financial intelligence unit, a Republican lawmaker said Tuesday.
Dozens of officials in the U.S. financial intelligence unit may be resigning this month as part of the bureau's plan to remodel itself.
House lawmakers are asking the nation's financial intelligence unit to reform how it screens job applicants following reports that the bureau's recent hiring campaign may have violated federal standards.
A decision by the U.S. Treasury to reshape the nation's financial intelligence unit has spurred serious concerns about the direction of the agency.
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.
When FinCEN restructured its reporting hierarchy, the bureau signaled a subtle but important shift for banks: some of the energy it had once spent toward improving compliance would now serve to penalize regulatory violators, says former Assistant Director for the Office of Compliance Tom Fleming.
The U.S. Treasury Department's financial intelligence unit is considering invoking for the first time a Bank Secrecy Act power to obtain data on foreign banks, say multiple sources.
The U.S. Treasury Department's financial intelligence unit is hiring three top-ranking officials as part of a restructuring announced in June.
The U.S. Treasury Department is nearing completion of a plan to use predictive analytics software to analyze regulatory data and identify possible financial crimes, an official said Tuesday.
The U.S. government's financial intelligence unit will resume an abandoned practice of fining banks for Bank Secrecy Act violations apart from the enforcement actions it works on with federal regulators, say sources.
Representatives from the financial industry have asked the U.S. Treasury Department to streamline a Patriot Act program that allows banks to share their suspicions with each other about client activity.
Four months into the tenure of its new director, the nation's financial intelligence unit is positioning itself to more aggressively enforce anti-money laundering regulations and closely work with law enforcement officials.