More money sought for anti-crime network

The Bush administration says it will ask for a substantial increase -- 12.7 percent -- in the budget to pay for new efforts to stop terrorist financing and other financial crimes. The money would go to the Financial Crimes Enforcement Network (FinCEN), a Treasury Department bureau for monitoring and cutting off money used in criminal and terrorist activities.

One among several programs that could get more money is FinCEN Gateway, an information system set up to help federal, state and local law enforcement officials gain access to records filed under the Bank Secrecy Act. A portion of the money would help pay for a new Web-based data retrieval system and analytical tools to investigate suspected money laundering, Treasury officials said today at a briefing in the department's headquarters.

Officials said some of the additional financing would pay for a 25 percent increase in staffing at the bureau. Staff members would be hired to help financial services companies avoid being used to hide illegal proceeds. The bureau would also hire more analysts to provide data-mining analysis and other information to law enforcement and finance officials.

A group that tracks the government's spending on homeland security said a budget increase for FinCEN could be helpful.

"I'm particularly happy that they've doubled the Gateway program to help the feds work better with state and local entities," said Dan Heinemeier, president of the Government Electronics and Information Technology Association. "Anything along these lines to get local entities and the federal government talking and working together I think is very positive."

The proposed increase will be included in the president's 2005 budget request.

Featured

  • Defense
    Ryan D. McCarthy being sworn in as Army Secretary Oct. 10, 2019. (Photo credit: Sgt. Dana Clarke/U.S. Army)

    Army wants to spend nearly $1B on cloud, data by 2025

    Army Secretary Ryan McCarthy said lack of funding or a potential delay in the JEDI cloud bid "strikes to the heart of our concern."

  • Congress
    Rep. Jim Langevin (D-R.I.) at the Hack the Capitol conference Sept. 20, 2018

    Jim Langevin's view from the Hill

    As chairman of of the Intelligence and Emerging Threats and Capabilities subcommittee of the House Armed Services Committe and a member of the House Homeland Security Committee, Rhode Island Democrat Jim Langevin is one of the most influential voices on cybersecurity in Congress.

Stay Connected

FCW INSIDER

Sign up for our newsletter.

I agree to this site's Privacy Policy.