OFAC Director Leaves for FinCEN

Andrea Gacki is leaving her role as director of the Office of Foreign Assets Control to become the new director of the Treasury Department’s Financial Crimes Enforcement Network, the agency announced July 13. Treasury Secretary Janet Yellen said Gacki helped guide OFAC through “major world events,” including Russia’s invasion of Ukraine, and “expertly” deployed financial sanctions, industry guidance and enforcement actions “to hold accountable those who threaten our national security and the international financial system.”

“As FinCEN embarks on its most ambitious project in recent years -- bringing transparency to corporate ownership and protecting the U.S. financial system -- there’s no one I trust more to lead the office than Andrea,” Yellen said. “Andrea’s encyclopedic knowledge of policy, her deep global relationships, and her steady leadership will ensure the Bureau continues to set the international standard for combatting financial crimes.”

Gacki said she is “honored and excited” to lead FinCEN and looks forward to “continuing FinCEN’s critical efforts to implement the Anti-Money Laundering Act of 2020, including the Corporate Transparency Act.” Acting FinCEN Director Himamauli Das will continue in his role during the transition period and assist Gacki during her onboarding process.

Treasury’s announcement didn’t say who will be replacing Gacki at OFAC. An agency spokesperson didn’t comment.