31 U.S.C. § 313 : US Code - Section 313: Terrorism and Financial Intelligence

Search 31 U.S.C. § 313 : US Code - Section 313: Terrorism and Financial Intelligence

(a) Office of Terrorism and Financial Intelligence. -
(1) Establishment. - There is established within the Department
of the Treasury the Office of Terrorism and Financial
Intelligence (in this section referred to as "OTFI"), which shall
be the successor to any such office in existence on the date of
enactment of this section.
(2) Leadership. -
(A) Undersecretary. - There is established within the
Department of the Treasury, the Office of the Undersecretary
for Terrorism and Financial Crimes, who shall serve as the head
of the OTFI, and shall report to the Secretary of the Treasury
through the Deputy Secretary of the Treasury. The Office of the
Undersecretary for Terrorism and Financial Crimes shall be the
successor to the Office of the Undersecretary for Enforcement.
(B) Appointment. - The Undersecretary for Terrorism and
Financial Crimes shall be appointed by the President, by and
with the advice and consent of the Senate.
(3) Assistant secretary for terrorist financing. -
(A) Establishment. - There is established within the OTFI the
position of Assistant Secretary for Terrorist Financing.
(B) Appointment. - The Assistant Secretary for Terrorist
Financing shall be appointed by the President, by and with the
advice and consent of the Senate.
(C) Duties. - The Assistant Secretary for Terrorist Financing
shall be responsible for formulating and coordinating the
counter terrorist financing and anti-money laundering efforts
of the Department of the Treasury, and shall report directly to
the Undersecretary for Terrorism and Financial Crimes.
(4) Functions. - The functions of the OTFI include providing
policy, strategic, and operational direction to the Department on
issues relating to -
(A) implementation of titles I and II of the Bank Secrecy
Act;
(B) United States economic sanctions programs;
(C) combating terrorist financing;
(D) combating financial crimes, including money laundering,
counterfeiting, and other offenses threatening the integrity of
the banking and financial systems;
(E) other enforcement matters;
(F) those intelligence analysis and coordination functions
described in subsection (b); and
(G) the security functions and programs of the Department of
the Treasury.
(5) Reports to congress on proposed measures. - The
Undersecretary for Terrorism and Financial Crimes and the
Assistant Secretary for Terrorist Financing shall report to the
Committee on Banking, Housing, and Urban Affairs of the Senate
and the Committee on Financial Services of the House of
Representatives not later than 72 hours after proposing by rule,
regulation, order, or otherwise, any measure to reorganize the
structure of the Department for combatting money laundering and
terrorist financing, before any such proposal becomes effective.
(6) Other offices within otfi. - Notwithstanding any other
provision of law, the following offices of the Department of the
Treasury shall be within the OTFI:
(A) The Office of the Assistant Secretary for Intelligence
and Analysis, which shall report directly to the Undersecretary
for Terrorism and Financial Crimes.
(B) The Office of the Assistant Secretary for Terrorist
Financing, which shall report directly to the Undersecretary
for Terrorism and Financial Crimes.
(C) The Office of Foreign Assets Control (in this section
referred to as the "OFAC"), which shall report directly to the
Undersecretary for Terrorism and Financial Crimes.
(D) The Executive Office for Asset Forfeiture, which shall
report to the Undersecretary for Terrorism and Financial
Crimes.
(E) The Office of Intelligence and Analysis (in this section
referred to as the "OIA"), which shall report to the Assistant
Secretary for Intelligence and Analysis.
(F) The Office of Terrorist Financing, which shall report to
the Assistant Secretary for Terrorist Financing.
(7) FinCEN. -
(A) Reporting to undersecretary. - The Financial Crimes
Enforcement Network (in this section referred to as "FinCEN"),
a bureau of the Department of the Treasury, shall report to the
Undersecretary for Terrorism and Financial Crimes. The
Undersecretary for Terrorism and Financial Crimes may not
redelegate its reporting authority over FinCEN.
(B) Office of compliance. - There is established within
FinCEN, an Office of Compliance.
(b) Office of Intelligence and Analysis. -
(1) Assistant secretary for intelligence and analysis. - The
Assistant Secretary for Intelligence and Analysis shall head the
OIA.
(2) Responsibilities. - The OIA shall be responsible for the
receipt, analysis, collation, and dissemination of intelligence
and counterintelligence information related to the operations and
responsibilities of the entire Department of the Treasury,
including all components and bureaus of the Department.
(3) Primary functions. - The primary functions of the OIA are -

(A) to build a robust analytical capability on terrorist
finance by coordinating and overseeing work involving
intelligence analysts in all components of the Department of
the Treasury, focusing on the highest priorities of the
Department, as well as ensuring that the existing intelligence
needs of the OFAC and FinCEN are met; and
(B) to provide intelligence support to senior officials of
the Department on a wide range of international economic and
other relevant issues.
(4) Other functions and duties. - The OIA shall -
(A) carry out the intelligence support functions that are
assigned, to the Office of Intelligence Support under section
311 (pursuant to section 105 of the Intelligence Authorization
Act for Fiscal Year 2004);
(B) serve in a liaison capacity with the intelligence
community; and
(C) represent the Department in various intelligence related
activities.
(5) Duties of the assistant secretary. - The Assistant
Secretary for Intelligence and Analysis shall serve as the Senior
Officer Intelligence Community, and shall represent the
Department in intelligence community fora, including the National
Foreign Intelligence Board committees and the Intelligence
Community Management Staff.
(c) Delegation. - To the extent that any authorities, powers, and
responsibilities over enforcement matters delegated to the
Undersecretary for Terrorism and Financial Crimes, or the positions
of Assistant Secretary for Terrorism and Financial Crimes,
Assistant Secretary for Enforcement and Operations, or Deputy
Assistant Secretary for Terrorist Financing and Financial Crimes,
have not been transferred to the Department of Homeland Security,
the Department of Justice, or the Assistant Secretary for Tax
Policy (related to the customs revenue functions of the Bureau of
Alcohol and Tobacco Tax and Trade), those remaining authorities,
powers, and responsibilities are delegated to the Undersecretary
for Terrorism and Financial Crimes.
(d) Designation as Enforcement Organization. - The Office of
Terrorism and Financial Intelligence (including any components
thereof) is designated as a law enforcement organization of the
Department of the Treasury for purposes of section 9703 of title
31, United States Code, and other relevant authorities.
(e) Use of Existing Resources. - The Secretary may employ
personnel, facilities, and other Department of the Treasury
resources available to the Secretary on the date of enactment of
this section in carrying out this section, except as otherwise
prohibited by law.
(f) References. - References in this section to the "Secretary",
"Undersecretary", "Deputy Secretary", "Deputy Assistant Secretary",
"Office", "Assistant Secretary", and "Department" are references to
positions and offices of the Department of the Treasury, unless
otherwise specified.