Office of Terrorist Financing and Financial Crimes

Mission Statement

The Office of Terrorist Financing and Financial Crimes (TFFC) is responsible for formulating and coordinating comprehensive anti-money laundering, countering the financing of terrorism, and countering the financing of proliferation (AML/CFT/CPF) policies and strategies that leverage the Treasury Department’s tools and authorities to target national security and foreign policy threats, safeguarding the U.S. and international financial systems from abuse, and leading foreign engagement for the Office of Terrorism and Financial Intelligence (TFI).

Leadership

Recent Updates

FATF Moves Forward in Combating Corruption and Illegal Fentanyl Trafficking, Enhancing Financial Transparency. On October 21, the Financial Action Task Force (FATF) concluded its first plenary of the Singaporean presidency. The FATF—the international anti-money laundering and countering the financing of terrorism (AML/CFT) standard-setting body—made several key advances. It agreed to seek public input on draft guidance for implementing the FATF standard on beneficial ownership transparency for legal persons; adopted a U.S.-led report on money laundering related to the illicit trafficking of synthetic opioids, including fentanyl; and commenced work on several projects designed to strengthen global efforts to combat corruption. The FATF also agreed to additional restrictions on the membership rights of the Russian Federation due to its brutal war against Ukraine.
Action Plan to Address Illicit Financing Risks of Digital Assets. Pursuant to Section 7(c) of Executive Order (E.O.) 14067, “Ensuring Responsible Development of Digital Assets,” TFFC, working with TFI and other Treasury and interagency partners, prepared a coordinated interagency Action Plan to mitigate the digital asset related illicit finance and national security risks as identified in the U.S. government’s National Risk Assessments and National Strategy for Combating Terrorist and Other Illicit Financing.
- The report and related materials can be found below :
  - Action Plan to Address Illicit Financing Risks of Digital Assets: This Action Plan identifies priority and supporting actions on monitoring risks, working with international partners to improve implementation of international AML/CFT standards, strengthening our domestic regulations and operational frameworks, and enhancing private sector compliance and information sharing, among others. Treasury also released a Fact Sheet on the Action Plan.
  - Statement from Secretary of the Treasury Janet L. Yellen on the Release of Reports on Digital Assets: The Secretary’s statement outlines Treasury’s commitment to implementing E.O. 14067, which includes the Action Plan, as well as separate reports on The Future of Money and Payments and Crypto-Assets: Implications for Consumers, Investors, and Businesses among others.
  - Treasury Seeks Public Input on Illicit Finance, National Security Risks Posed by Digital Assets: The Request for Comment (RFC) seeks feedback from the American people on the illicit finance and national security risks posed by digital assets by November 3, 2022.
United We Stand Summit. To support the Biden Administration’s United We Stand Summit to counter the corrosive effects of hate-fueled violence on our democracy and public safety, Treasury is putting together a website of key reports and resources on the financing of DVE. These resources will assist financial institutions and law enforcement to detect and combat the financing of DVE. Treasury will also undertake strategic engagement with regional financial institutions across the United States to discuss risks associated with financing domestic violent extremism, and hold a workshop with virtual currency firms on domestic violent extremist use of virtual assets.

Offices

Office of Strategic Policy (OSP)
Office of Global Affairs (OGA)
TFFC and the Financial Action Task Force (FATF)
Treasury’s Financial Attaché Program

Federal Financial Data