New FinCEN division focuses on identifying primary foreign money laundering threats

imagesThe Financial Crimes Enforcement Network has launched a new Global Investigations Division, which will be responsible for implementing targeted investigation strategies rooted in FinCEN’s authorities under the Bank Secrecy Act to combat illicit finance threats and related crimes, both domestically and internationally.

The GID will be led by Matthew Stiglitz, former principal deputy chief in the Department of Justice’s Criminal Division.

“FinCEN will greatly benefit from Matthew’s experience, leadership, and management skills,” said FinCEN Director Kenneth A. 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.”

The 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 GID will employ FinCEN’s authorities to detect and deter a wide range of potential threats to national security and the 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.

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