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U.S. Treasury Department is Inconsistent in Cooperation on AML: GAO

By Brian Monroe

The division of the U.S. Treasury Department that oversees the country's financial intelligence unit has been "inconsistent" in its cooperation with other government agencies, a watchdog report said Monday. Officials from the State and Justice Departments believe that poor cooperation by the Treasury Department's Office of Terrorism and Financial Intelligence (TFI) in international anti-money laundering efforts may "undermine some efforts to combat illicit financial networks," the U.S. Government Accountability Office (GAO) said in a 50-page report. In some cases, TFI officials have precluded other agencies from participating in mutual evaluations with the Paris-based Financial Action Task Force (FATF), U.S. officials...

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