International Law Advisory - Treasury Department Names New Director of Office of Foreign Assets Control

On August 1, 2006, the Department of Treasury released a statement announcing Adam Szubin as the new Director of the Office of Foreign Assets Control (“OFAC”). Mr. Szubin replaces Robert Werner, who left the OFAC directorship earlier this year and moved to the Treasury Department’s Financial Crimes Enforcement Network (FinCEN).

Since joining the Treasury Department, Mr. Szubin has worked on terrorist financing, money laundering, sanctions programs, rogue regimes, WMD proliferation, and intelligence analysis, in his capacity as Senior Advisor to the Under Secretary for Terrorism and Financial Intelligence. He also chaired the Money Laundering Threat Assessment Working Group, which produced the first government-wide analysis of U.S. money laundering vulnerabilities.  Prior to joining Treasury, Mr. Szubin served in the Department of Justice as a trial attorney in the Civil Division, where he worked on terrorism-related litigation.

The Treasury’s full press release is available here.

If you have any questions, or desire further information on this or any related developments, please feel free to contact Ed Krauland at 202.429.8083.