Department of the Treasury Names Andrea Gacki as New FinCEN Director

The Department of the Treasury has named Andrea Gacki as the new director of the Financial Crimes Enforcement Network (FinCEN).

As the current director of the Office of Foreign Assets Control (OFAC), Gacki has a track record of leading the U.S. government’s implementation and enforcement of economic sanctions, the Treasury Department said in a Thursday (July 13) press release.

Gacki has also previously held the position of the Treasury Department’s under secretary for terrorism and financial intelligence (TFI), the release said.

“FinCEN plays a vital role in safeguarding the U.S. financial system, and I look forward to leading the FinCEN team in these important efforts,” Gacki said in the release. “I also look forward to continuing FinCEN’s critical efforts to implement the Anti-Money Laundering Act of 2020, including the Corporate Transparency Act.”

TFI Under Secretary Brian Nelson said in the release that Gacki will be leading the organization “during this critical time in FinCEN’s history.”

“Her deep experience leading significant national security initiatives on behalf of the Treasury Department and the broader U.S. government will be key assets to FinCEN and TFI in her new role,” Nelson said in the release.

Prior to her current roles, Gacki held multiple senior leadership roles at OFAC and served as a trial attorney in the Federal Programs Branch of the Civil Division of the U.S. Department of Justice (DOJ).

Acting FinCEN Director Himamauli Das, who has served in his role for the past two years, will assist Gacki through the transition and onboarding process.

“[Das] steered the Bureau through unprecedented times where the demands increased exponentially, and he achieved remarkable accomplishments during his tenure, including overseeing the Bureau’s implementation of the Corporate Transparency Act,” Nelson said in the release.

Pursuant to the Corporate Transparency Act, FinCEN issued a final rule in October 2022 that creates a beneficial ownership information reporting requirement.

The rule, which goes into effect Jan. 1, 2024, will require most corporations, limited liability companies, and other companies established or registered to do business in the U.S. to report information about their beneficial owners, the people who own or control the company.

“This final rule is a significant step forward in our efforts to support national security, intelligence and law enforcement agencies in their work to curb illicit activities,” Das said at the time.