Mission
The Office of Terrorism and Financial Intelligence (TFI) marshals the department's intelligence and enforcement functions with the twin aims of safeguarding the financial system against illicit use and combating rogue nations, terrorist facilitators, weapons of mass destruction (WMD) proliferators, money launderers, drug kingpins, and other national security threats.
Latest News from TFI
U.S. Treasury Department Announces Settlement With Lloyds TSB Bank, PLC – On December 22, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced a $217 million settlement with Lloyds TSB Bank, plc (Lloyds), concerning the bank's intentional manipulation and deletion of information about U.S. sanctioned parties in wire transfer instructions routed through third-party banks located in the United States. Lloyds previously entered into deferred prosecution agreements with the Department of Justice and with the New York County District Attorney's Office for the same pattern of conduct.
U.S. Treasury Department Announces Joint $536 Million Settlement with Credit Suisse AG – On December 16, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC), alongside the U.S. Department of Justice and the New York County District Attorney's Office announced a $536 million global settlement with Credit Suisse AG (Credit Suisse) – the largest penalty settlement in OFAC's history. The settlement stems from Credit Suisse's structuring of thousands of wire transfers executed through U.S. banks and securities transactions executed through its U.S. office to ensure that the involvement of sanctioned parties was not apparent. The Board of Governors of the Federal Reserve System has issued a consent Cease and Desist Order against Credit Suisse in connection with the case and is requiring the bank to implement an enhanced global regulatory compliance program. The Swiss Financial Market Supervisory Authority, as the home country supervisor of Credit Suisse, has agreed to assist the Board of Governors in the implementation and supervision of that Order.
Treasury Designates Sinaloa Cartel Members Under the Kingpin Act – On December 15, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated two Mexican nationals and one Colombian national as Specially Designated Narcotics Traffickers (SDNTs) for providing material support to the drug trafficking activities of the Sinaloa Cartel. OFAC also designated two Mexican companies and two Colombian companies as SDNTs. This action, pursuant to the Foreign Narcotics Kingpin Designation Act (Kingpin Act), prohibits U.S. persons from conducting financial or commercial transactions with these entities and individuals and freezes any assets the designees may have under U.S. jurisdiction.
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Last Updated:
December 30, 2009
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