The head of the Treasury Department bureau responsible for issuing anti-money laundering and counter-terror finance regulations has been dismissed, sources said.
James Freis, who took the reins at Treasury’s Financial Crimes Enforcement Network (FinCEN) in March 2007, was dismissed by Under Secretary for Terrorism and Financial Intelligence David Cohen after refusing to resign, a source with knowledge of the firing confirmed.
He will reportedly remain in his post until a replacement is found.
Freis declined comment on Monday through FinCEN spokesman Steve Hudak, and referred Thomson Reuters to Treasury Department spokesman John Sullivan. Sullivan did not immediately return a request for comment.
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