CORRECTION APPENDED: 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. In a statement, Sen. Chuck Grassley (R-IA) said that he had unsuccessfully pushed to delay the nomination of Nani Coloretti to a leadership position with the Department of Housing and Urban Development until the Treasury Department clarifies its role in the alleged exclusion of combat veterans from positions with the Financial Crimes Enforcement Network, or FinCEN. ACAMS moneylaundering.com reported in April that the Office of Personnel Management had launched an investigation into...
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.
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 nation's primary financial intelligence unit has been structurally reorganized to better integrate how the bureau analyzes and shares data on money laundering and other crimes, its director said Monday.