William Barry Quoted Regarding FinCEN Power to Stop Financial Crimes in Global Investigations Review

"FinCEN Puts Banks on Notice with New Investigations Section"

Global Investigations Review


William Barry was quoted regarding the launch of the new Financial Crimes Enforcement Network (FinCEN) General Investigation Division (GID). With plans for increased staffing and budget, the GID will provide FinCEN with the resources it needs to investigate and bring enforcement affecting both domestic and non-U.S. financial institutions. The initiative is consistent with efforts to supercharge anti-money laundering investigation and enforcement in order to deter and detect terrorist financing and money laundering activities. "The international banking system has been put on notice," Barry said, "The increase in budget and the mandate behind it [the new unit] reflects an intention to reach outside of the United States and better police who gets a U.S. correspondent account and who doesn't."