Mission
The Office of Terrorism and Financial Intelligence (TFI) marshals the department's intelligence and enforcement functions with the twin aims of safeguarding the financial system against illicit use and combating rogue nations, terrorist facilitators, weapons of mass destruction (WMD) proliferators, money launderers, drug kingpins, and other national security threats.
Latest News from TFI
Treasury Targets FARC Operative and Affiliated Companies – On August 20, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated Jose Cayetano Melo Perilla for materially assisting the narcotics trafficking activities of, and acting for or on behalf of, the Revolutionary Armed Forces of Colombia (FARC), a drug trafficking organization. OFAC also named four entities that are owned, controlled, or directed by, or act for or on behalf of, Jose Cayetano Melo Perilla. Today's action, pursuant to the Foreign Narcotics Kingpin Designation Act (Kingpin Act), is OFAC's tenth set of designations against the FARC under the Kingpin Act since 2004.
Treasury Designates Financial Institution Tied to North Korea’s WMD Proliferation – On August 11, the U.S. Department of the Treasury designated the Korea Kwangson Banking Corp. (KKBC) under Executive Order (E.O.) 13382 for providing financial services in support of both Tanchon Commercial Bank (Tanchon) and Korea Hyoksin Trading Corporation (Hyoksin), a subordinate of the Korea Ryonbong General Corporation (Ryonbong). KKBC is based in North Korea and has operated at least one overseas branch in Dandong, China.
Treasury Designates North Korean Entity Tied to Weapons of Mass Destruction Development – On July 30, the U.S. Treasury Department designated a North Korean entity, the Korea Hyoksin Trading Corporation (Hyoksin), under Executive Order 13382 for being owned or controlled by a North Korean entity, the Korea Ryonbong General Corporation (Ryonbong), which was identified in the Annex to E.O. 13382. E.O. 13382 freezes the assets of proliferators of weapons of mass destruction (WMD) and their supporters, and it prohibits U.S. persons from engaging in any transactions with them, thereby isolating them from the U.S. financial and commercial systems.
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Last Updated:
August 21, 2009
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