The United States has a long history of global leadership on combating illicit finance, from the landmark Bank Secrecy Act of 1979 to coordinating international sanctions on Russia’s war economy. But a lack of transparency within the US financial system itself has made the system vulnerable to money laundering, sanctions evasion, and even terrorist financing.
The Biden administration and Congress have prioritized initiatives to close financial secrecy loopholes in recent years. These notably include the recently launched Beneficial Ownership Information Registry to tackle shell company abuse and new proposed rules to curb money laundering through real estate and other high-risk sectors of the US economy.
Overseeing these efforts within the Department of the Treasury is the Office of Terrorism and Financial Intelligence (TFI), led by Under Secretary Brian Nelson. TFI is responsible for developing and implementing US government strategies to combat illicit finance, marshaling formidable enforcement, regulatory, and intelligence capabilities to target domestic and foreign threats to US national security. TFI also oversees component offices responsible for economic sanctions, financial intelligence, and asset forfeiture.
Please join Hudson Institute for a discussion with Under Secretary Nelson on strengthening financial transparency to safeguard US national and economic security.
Join Hudson Institute for a discussion of how the US can build a more resilient and flexible energetics base—one that can meet sustained demand while accelerating the development and fielding of new capabilities.
Join Hudson Institute for a conference with leaders from industry, government, academia, and defense to discuss the latest developments in the US-China AI competition.
Join House Armed Services Committee Chairman Mike Rogers (AL-03) for a fireside discussion with Senior Fellow Nadia Schadlow on Congress’s role in revitalizing America’s defense industrial base.
Join Hudson Institute Senior Fellow Ken Moriyasu for a panel with Chaim Martin, Israel’s minister of economic affairs to the United States; Aslı Aydıntaşbaş of the Brookings Institution; Soner Cagaptay of the Washington Institute; and Director of the Center for Peace and Security in the Middle East Michael Doran as they examine the logic behind each framework and what their rivalry means for US policy.
