FinCEN Rehires Chainalysis Exec to ‘Confront Rising Threats’




Chainalysis chief technical counsel Michael Mosier will return to the Monetary Crimes Enforcement Community in a brand new position as Deputy Director and Digital Innovation Officer. In response to FinCEN Director Kenneth Blanco, Mosier is the “proper individual with the precise abilities, at precisely the precise time.”


FinCEN Seeks Assist Participating Business and Authorities Companions

As per the official release on the FinCEN web site, the bureau of the U.S. Division of the Treasury is hiring Mosier again on its management crew to raised liaise between completely different events. Blanco acknowledged:

He brings a variety of private and non-private sector expertise that may assist FinCEN proactively have interaction with business and authorities companions to confront rising threats and to capitalize on various alternatives within the monetary and nationwide safety areas.

Mosier was working with FinCEN because the company’s chief of strategic development previous to becoming a member of crypto analytics agency Chainalysis in June 2019. He has spent the previous few months serving as the corporate’s chief technical counsel. In his new position, he shall be serving to the bureau with its work:

to guard the monetary integrity and nationwide safety of america.

Shifting Towards Main Reform?

Past his technical and strategic capabilities, Mosier brings with him in depth information of blockchain know-how in addition to a wealth of authorized expertise. He beforehand served as deputy chief within the U.S. Division of Justice’s Cash Laundering and Asset Restoration Part in addition to affiliate director of the Treasury’s Workplace of Overseas Property Management. 

As well as, Mosier labored as director for transnational organized crime on the White Home Nationwide Safety Council and carved out his early profession with the Manhattan District Lawyer’s Workplace.

In response to Law360, with Mosier’s steering, FinCEN is probably readying for an “array of reforms.” These embody the potential enforcement of payments launched to the U.S. Home and Senate final yr which might obligate new firms to disclose their final human homeowners. They’d additionally should replace their data periodically with FinCEN. This may mark the “first substantial anti-money laundering reforms in practically 20 years.”

If included, the payments would assist to strengthen the bureau’s place by giving it harder AML penalties to implement together with improved ease of data sharing with monetary establishments. They’d additionally open the door to additional modifications within the AML framework corresponding to changes to the necessities when reporting suspicious exercise.

What do you make of FinCEN’s newest hiring? Add your ideas under!


Photographs through Shutterstock



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