FinCEN head touts compliance through enforcement approach

Dark money

The head of the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) said recent enforcement actions by the agency have addressed significant gaps in the U.S. anti-money laundering/countering the financing of terrorism (AML/CFT) regime and exposed specific risk factors, trends, and typologies.

In a speech delivered Thursday during the Puerto Rican Symposium of AML, FinCEN Director Andrea Gacki said the agency has sought to drive compliance through enforcement. She noted FinCEN has been increasingly active lately.

“This is consistent with recent efforts across various workstreams to increase enforcement by strategically deploying our resources,” said Gacki, who took over as FinCEN director in July.

lock iconTHIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.