Everyone recognizes sanctions as one of the United States’ most powerful tools of economic statecraft. But few realize that much of the information behind sanctions designations comes from another office within the Treasury Department: specifically, the Financial Crimes Enforcement Network (or FinCEN). And over the past few years, as sanctions and other economic tools have become more and more important, FinCEN has been evolving its operations and activities as well.
To discuss the current state of FinCEN and what its future holds, Lawfare Contributing Editor Brandon Van Grack and Lawfare Senior Editor Scott R. Anderson had a conversation with its current Director, Andrea Gacki, for the latest installment of their “The Regulators” series, focusing on the policymakers at the frontlines of national security and economic statecraft. They discussed FinCEN’s involvement in the historic Binance settlement, what new policies FinCEN is rolling out to tackle everything from beneficial ownership to residential real estate, and how it is working with similar organizations around the globe.
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