By Elizabeth Hearst for AMLi
The United States Treasury Department has requested $212M for its Office of Terrorism and Financial Intelligence and sanctions processes, in a 14.5% increase on requested budget from last year, following the 2021 Sanctions review.
The audit revealed that the agency needed to “adapt and modernise its underlying operational architecture” to meet emerging challenges that could impact sanctions, including cyber, digital currencies and cross-border transactions, reports the Wall Street Journal.
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