New FinCEN Division Focuses on Identifying Primary Foreign Money Laundering Threats

WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has launched its Global Investigations Division (GID), which will be respon­si­ble for imple­ment­ing tar­get­ed inves­ti­ga­tion strate­gies root­ed in FinCEN’s unique author­i­ties under the Bank Secrecy Act (BSA) to com­bat illic­it finance threats and relat­ed crimes, both domes­ti­cal­ly and internationally.

FinCEN Director Kenneth A. Blanco announced that Matthew Stiglitz, a for­mer Principal Deputy Chief in the Department of Justice’s Criminal Division, will lead GID. Mr. Stiglitz brings con­sid­er­able expe­ri­ence to FinCEN in com­plex inter­na­tion­al inves­ti­ga­tions after spend­ing more than 24 years as a state and Federal prosecutor.

FinCEN will great­ly ben­e­fit from Matthew’s expe­ri­ence, lead­er­ship, and man­age­ment skills,” said Director Blanco. “We are excit­ed to have him on our team as we stand up GID to fur­ther focus FinCEN’s inves­tiga­tive efforts to pro­tect our nation and its peo­ple from harm.”

GID will lever­age FinCEN’s BSA author­i­ties, includ­ing Section 311 of the USA PATRIOT Act, to inves­ti­gate and tar­get ter­ror­ist finance and mon­ey laun­der­ing threats, and GID will work more close­ly with for­eign coun­ter­parts to coor­di­nate actions against such threats when appropriate.

The foun­da­tion of GID is FinCEN’s for­mer Office of Special Measures (OSM), which was pre­vi­ous­ly a part of FinCEN’s Enforcement Division. FinCEN’s strate­gic use of its Section 311 author­i­ty as well as its oth­er infor­ma­tion col­lec­tion author­i­ties, such as the geo­graph­ic tar­get­ing order and for­eign finan­cial agency reg­u­la­tion author­i­ties, have great­ly expand­ed in recent years. FinCEN will now have one ded­i­cat­ed divi­sion focused on uti­liz­ing these author­i­ties to max­i­mum effect, build­ing upon OSM’s pri­or work.

GID will employ FinCEN’s author­i­ties to detect and deter a wide range of poten­tial threats to our nation­al secu­ri­ty and finan­cial sys­tem, includ­ing those that have a nexus to the pro­lif­er­a­tion of weapons of mass destruc­tion, rogue state actors, transna­tion­al orga­nized crime, inter­na­tion­al nar­cotics traf­fick­ing, and terrorism.

ContactSteve Hudak, 703–905-3770
Immediate ReleaseAugust 28, 2019 

Original source: Financial Crimes Enforcement Network