Treasury lawyer to take FinCEN helm

The Treasury Department has tapped William J. Fox, acting deputy counsel, to become the next director of its Financial Crimes Enforcement Network.

Fox will replace James Sloan, who next week begins a new job as assistant commandant for intelligence at the Coast Guard. Sloan last month announced his plans to leave FinCEN (Click for Oct. 22 GCN story).

At FinCEN, Fox will oversee the Treasury bureau that tracks large monetary transactions to prevent and detect money laundering'relying extensively on advanced computer matching and data forensics. He will begin work Dec. 1.

'Mr. Fox's demonstrated skill as an attorney and manager, his extensive experience in financial enforcement issues, and his great working relationship with the law enforcement, intelligence and financial regulatory communities will be a tremendous asset as the Treasury Department cracks down on financial crimes across the country and around the world,' Treasury secretary John W. Snow said in a statement today.

With the Treasury Office of General Counsel since 2000, Fox most recently was associate deputy general counsel and advised the department's chief counsel on terrorist financing and money laundering.

Since the Sept. 11 terrorist attacks, FinCEN has increased its focus on the use of money-laundering schemes to finance terrorist activity'one of the reasons the Guard was interested in bringing Sloan over to the Homeland Security Department.

Before he came to the Treasury post, Fox worked in legal jobs for two years at the Bureau of Alcohol, Tobacco and Firearms. He has a bachelor's degree and a law degree from Creighton University.

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