Reuters: Regulatory News: U.S. Treasury names new top enforcer on money laundering

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U.S. Treasury names new top enforcer on money laundering Aug 20th 2012, 15:55 WASHINGTON | Mon Aug 20, 2012 11:55am EDT WASHINGTON Aug 20 (Reuters) - The U.S. Treasury has named a top official of the Justice Department to head up its office in charge of overseas anti-money laundering and counter-terror finance regulations, the Treasury said in a statement on Monday. Jennifer Shasky Calvery, chief of the Justice Department's asset forfeiture and money laundering section, will start leading Treasury's Financial Crimes Enforcement Network (FinCEN) in September. FinCen's previous director, James Freis, was dismissed in May. The reason for pushing out Freis remains unclear, but an industry source told Reuters that Treasury leadership was concerned that FinCEN was not moving quickly enough on crucial rules related to the Iran sanctions law. Shasky Calvery's appointment also comes as the Treasury, the Justice Department and the Federal Reserve continue to investigate British bank Standard Chartered Plc for potential Iran-related sanctions violations.

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