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 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.
Treasury Announces Sanctions of Mexican Drug Lords – On July 20, as part of an ongoing effort to apply financial measures against narcotics traffickers worldwide, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) designated four drug cartel leaders as Specially Designated Narcotics Traffickers pursuant to the Foreign Narcotics Kingpin Designation Act (Kingpin Act). The four individuals designated today are leaders of the Gulf Cartel and Los Zetas, groups that are responsible for much of the violence taking place in Mexico today.
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Last Updated:
August 12, 2009
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