Director of FinCEN at the start; The agency appoints an interim director and a new deputy director – Finance and Banking

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United States: Director of FinCEN at the start; Agency appoints interim director and new deputy director

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FinCEN Director Kenneth A. Blanco will be leaving FinCEN on April 9, 2021, after more than three years at the helm of the organization. As of April 11, 2021, Michael Mosier – former Deputy Director of FinCEN and current Advisor to the Deputy Secretary of the Treasury – will assume the role of Acting Director of FinCEN.

Mr. Mosier was previously Deputy Director and Chief Digital Officer of FinCEN. Prior to that, he worked at a company specializing in cryptocurrency analysis, compliance, and investigations. Mr. Mosier has also served as associate director in the Treasury’s Office of Foreign Assets Control, among other roles in government.

AnnaLou Tirol, former Associate Director of the Strategic Operations Division of FinCEN, has been appointed to the post of Deputy Director of FinCEN.

Comment Jodi Avergun

Ken Blanco’s tenure at FinCEN has been quite successful. It dramatically expanded FinCEN’s intelligence gathering capabilities and shifted the agency from relative obscurity of everyone except its regulated community to national and international notoriety. Mr Blanco has had a big impact in the enforcement space, which is perhaps not surprising given his long history as a federal prosecutor and a senior official in the Department of Justice. Under his leadership, FinCEN increased the reach of the industry and highlighted what it called “feedback loops” between financial institutions, FinCEN and law enforcement as critical to increasing efficiency. and the efficiency of the US government’s AML regime. Mr Blanco leaves just as FinCEN begins the monumental task of drafting the regulations for the 2020 anti-money laundering law, including new beneficial ownership disclosure requirements under the law on corporate transparency.

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