News
Obama Nominates Former Wilmer Hale Lawyer to Counter Terrorism Financing Spot
By Brian Monroe
printThe Obama administration nominated a former anti-money laundering lawyer as an assistant secretary of the U.S. Treasury Department's counter-terrorism finance division. The White House said Sunday that it had asked David Cohen, currently the counselor to Treasury Secretary Timothy Geithner, to remain in the department as an assistant secretary under the supervision of Stuart Levey, the under secretary for terrorism and financial intelligence. Cohen, who shares his name with a former CIA counterterrorism official now with the New York Police Department, formerly worked as an anti-money laundering (AML) and white collar crime lawyer for Boston-based law firm WilmerHale. As such,...
TO READ THE FULL STORY
Related News
The U.S. House of Representatives Tuesday unanimously passed a bill aimed at foreign banks that provide financial services to Hezbollah, an Iran-backed, Lebanon-based Shiite militant group.
A transactional data handover mandated under a $102 million settlement disclosed Tuesday between the U.S. Justice Department and a defunct Beirut bank will likely lead to new financial crime investigations.
As U.S. officials work to shield American prepaid cards from abuse by financial crooks, foreign-issued stored value products remain a relatively easy avenue to move money into the United States anonymously.
A decision by the U.S. Second Circuit Court of Appeals affirming sanctions against Jordan's largest bank for not turning over data on suspicious accounts could leave some financial institutions with an unwanted choice, say attorneys.
The U.S. Treasury Department Friday fined a Sioux Falls, SD bank branch $10 million for not properly reporting instances of suspected structuring and terrorist financing.
Increases in the rates that U.S. states tax cigarette purchasers has led to a rise in tobacco smuggling by organized crime groups and terrorist financiers, say governmental officials.
U.S. officials have launched a criminal investigation after linking data seized at Osama bin Laden's compound in Abbottabad, Pakistan to a Bank Secrecy Act report, counterterrorism investigators said Monday.
The U.S. Justice Department seized $150 million held for a Lebanese financial institution at accounts at five U.S. banks, as part of a crackdown on a purported terrorist financing network.
The U.S. Treasury Department's ability to freeze the funds of suspected terror financiers without a warrant is likely curtailed to emergency circumstances under a court order handed down last week.
Lawmakers are asking the U.S. Justice Department to clarify how it will prosecute individuals and groups that aid terrorist organizations, and whether those cases could involve innocent charity groups.
U.S. efforts to clamp down on terror financiers have been largely a success, a federal official told American lawmakers at a hearing in downtown Manhattan Tuesday.
U.S. lawmakers Thursday questioned how a blacklisted Lebanese terrorist organization works with political leaders and narco-traffickers in Latin America.
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.
Less than two years after U.S. diplomats mentioned concerns that Qatar's terrorist financing problems may be "the worst in the region," the country has done little to effectively limit the crime, say experts.
Egypt's decision to reopen the Gaza Strip's most important land-based port of entry will complicate international efforts to stem funding for designated terrorist group Hamas, say critics of the move.
Documents and data seized Sunday by the United States during the military raid that killed Osama Bin Laden will likely give officials insight into how the terror group's financial network operates, say analysts.
A Beirut-based lender acted as a "primary money laundering concern" by handling hundreds of millions of dollars for drug traffickers and a designated terrorist organization, U.S. officials said Thursday.
A sweeping package of financial reform proposals unveiled Wednesday by President Obama would heighten oversight of banks, broker-dealers and non-bank financial companies, including potentially placing anti-money laundering requirements on hedge funds and private equity.
A former U.S. Treasury Department official who oversaw the nation's sanctions program and financial intelligence unit only to take a senior position at Merrill Lynch is returning to government service.
New leadership at the U.S. Treasury Department and an expected regulatory overhaul will likely mean few changes for the federal administrator of anti-money laundering laws, say Washington observers.