Assistant Secretary of the Treasury for Terrorist Financing
The Assistant Secretary for Terrorist Financing is an official within the United States Treasury Department appointed by the President of the United States, tasked with formulating, coordinating, and executing the U.S. government's counterterrorism financing and anti-money laundering strategies, as well as engaging in financial diplomacy to disrupt the financing of illicit actors and U.S. national security threats. This official reports to the Under Secretary of [the Treasury for Terrorism and Financial Intelligence] and oversees the Office of Terrorist Financing and Financial Crimes.
Established by the U.S. Congress in 2004 amid the evolving post-9/11 security landscape, the office provides strategic and policy planning functions aimed at disrupting the financing of a wide range of U.S. national security and illicit finance threats, including terrorist groups, drug traffickers, transnational criminals, cybercriminals, nuclear proliferators, and corrupt actors. The Assistant Secretary for Terrorist Financing is involved in safeguarding U.S. and international financial systems against abuse by illicit actors, engaging with foreign governments and the private sector to promote coordinated action, and leading foreign engagement on national security and illicit finance issues on behalf of the Treasury Department.
Establishment and responsibilities
The office of Assistant Secretary for Terrorist Financing is statutorily responsible for "formulating and coordinating the counter terrorist financing and anti-money laundering efforts of the Department of the Treasury". It is subordinate to that of the Under Secretary of the Treasury for Terrorism and Financial Intelligence and is appointed by the President of the United States, subject to the approval of the U.S. Senate. The office of Assistant Secretary for Terrorist Financing was established by the United States Congress in 2004.The Assistant Secretary for Terrorist Financing oversees the Office of Terrorist Financing and Financial Crimes, which provides policy planning, foreign engagement, and coordination functions across the Office of Terrorism and Financial Intelligence, including Treasury's Office of Foreign Assets Control, Office of Intelligence and Analysis, and Financial Crimes Enforcement Network. TFFC also leads the U.S. delegation to the Financial Action Task Force. Since its founding, TFFC has played a central role in the U.S. Treasury Department's dismantling of terrorist financing networks, imposition of financial pressure on Iran, and sanctions response to Russia's 2022 invasion of Ukraine.