CORRECTION APPENDED: Several Treasury Department agencies tasked with fighting money laundering and other financial crimes would see modest budget increases in a White House plan disclosed Monday. Under its 2016 budgetary proposal, the Obama administration would allocate $17.2 billion to the department overall, but cut $4 million from the Office of Terrorism and Financial Intelligence's $113 million budget for this fiscal year. The U.S. financial intelligence unit, known as FinCEN, would see an increase of $1 million to its current $112 million in appropriations. The Internal Revenue Service's Criminal Investigations division could enjoy the largest annual funding bump, from $602...
The Obama administration's plan to increase annual appropriations for IRS enforcement efforts by more than $1 billion met criticism Tuesday from Republican members of the U.S. Senate Finance Committee.
ACAMS moneylaundering.com spoke with the co-head of the United Kingdom's Serious Fraud Office's bribery and corruption unit, Ben Morgan, about his hopes of securing the U.K.'s first deferred prosecution agreement with a corporate.
The White House proposed Monday trimming the U.S. Treasury Department's budget by three percent for the coming fiscal year, including a seven percent drop in funding for the country's financial intelligence unit.