WASHINGTON — The U.S. Treasury Department on Thursday named one of its leading sanctions specialists to lead the Financial Crimes Enforcement Network.
Andrea Gacki replaces outgoing Fincen head Himamauli Das, who was the agency's acting director over the last two years. She assumes the position as Fincen is writing new regulations aimed at combating corruption within the United States and abroad.
So far, the agency has issued
"Fincen plays a vital role in safeguarding the U.S. financial system, and I look forward to leading the Fincen team in these important efforts," Gacki said in a written statement. "I also look forward to continuing Fincen's critical efforts to implement the Anti-Money Laundering Act of 2020, including the Corporate Transparency Act."
Since September 2019, Gacki has served as director of the Treasury's Office of Foreign Assets Control. At Fincen, she will now lead another Treasury division that focuses on cracking down on illicit finance.
Gacki's appointment, which does not require Senate confirmation, comes at a time when the United States has numerous sanctions in place against Russia following its invasion of Ukraine. The Biden administration has continued to make rooting out sanctions evasion a top priority, and the new director is expected to bolster such efforts. With no end to the war in sight, Fincen will continue to be one of the key players tasked with preventing Russian illicit finance.
Anti-corruption advocates praised the Biden administration's decision to appoint a permanent Fincen director, and they said that Gacki's arrival is timely, given heightened U.S. interest in combating financial crime.
"The U.S. is the easiest place in the world to hide dirty money. In naming a permanent director, Treasury has taken a crucial step to empower Fincen to better safeguard the U.S. financial system and defend against ever-evolving financial threats," said Ian Gary, executive director of the Financial Accountability and Corporate Transparency Coalition, which focuses on corruption.
"The new Fincen director has no small task ahead," Gary added. "It's up to the new director to keep up the momentum and deliver reforms that will root out dirty money flowing through our markets."
Gacki also received praise from Alessio Evangelista, a former head of Fincen's enforcement and compliance division. He said the decision to appoint Gacki was a thoughtful one, given the increasing connections between combating illicit finance and detecting sanctions evasion.
"Andrea Gacki's selection as Fincen director shows that the U.S. government will continue to fight illicit finance and sanctions evasion in a highly coordinated way," Evangelista said. "The U.S. government is hyperfocused on holding companies and individuals accountable for sanctions violations and anti-money laundering failures."
Fincen said that Das will continue in his role as acting director during a brief transition period, assisting Gacki in her onboarding process. While the agency appointed Das in an acting capacity, Treasury Secretary Yellen has appointed Gacki to a permanent role under her authority
