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Treasury’s Cohen Dismisses FinCEN Director
By Colby Adams and Brian Monroe
printUPDATE: Adds details from a U.S. Treasury Department e-mail and expands biographical information. James H. Freis, the director of the U.S. financial intelligence unit, was dismissed Thursday, ending a 5-year tenure that oversaw the drafting of the toughest anti-money laundering regulations since the passage of the U.S. Patriot Act. Freis, who told his staff Thursday morning that he was leaving the Financial Crimes Enforcement Network (FinCEN), was asked to step down by Under Secretary for Terrorism and Financial Intelligence David Cohen, multiple sources familiar with the bureau told MoneyLaundering.com. When he refused, Cohen dismissed Freis, informing the bureau's 300-plus employees...
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