William Fox New Director at FinCEN
After serving as Deputy Assistant General Counsel for Enforcement and Acting Deputy General Counsel at Treasury, William Fox took over as the head of the U.S. Financial Crimes Enforcement Network (FinCEN) on December 1, 2003. The former head of FinCEN, Jim Sloan, took a position as Deputy Commandant of the U.S. Coast Guard.
In an interview for the January issue of Money Laundering Alert, Mr. Fox stated that providing adequate guidance to financial institutions is a top priority, both for formal guidance, and for the agency to be available for informal guidance. He also stressed the importance of information sharing between FinCEN and the financial industry, and sees the need to determine what the most useful reported information is, and how it is being used by government.
Copyright © 2004 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 13, No. 11, 1/04
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