Revolvng door: U.S. Treasury anti-laundering head to join HSBC – sources

The U.S. Treasury Department’s top anti-money laundering official is resigning to take what sources said on Tuesday was a top post at HSBC Holdings Plc , which is struggling to meet terms of an earlier settlement with the U.S. government.

Jennifer Shasky Calvery announced she was resigning as director of Treasury’s Financial Crimes Enforcement Network (FinCEN), which she has headed since 2012. She is a former federal prosecutor who had also led the Justice Department’s anti-money laundering unit.

“I hope that we have enhanced the agency’s solid foundation so that FinCEN can best perform its mission for years into the future,” Shasky said in a press release.

The resignation is to be effective on May 27.

Her move to HSBC was confirmed by two sources familiar with her plans. Shasky declined comment through a FinCEN spokesman, and an HSBC spokesman declined comment.

Shasky will join HSBC in a senior global financial-crime fighting role, according to one source. It is not clear when she will begin that work.

Her move to HSBC comes as the bank is working to demonstrate it has sufficiently bolstered its controls to prevent money laundering, as required by a 2012 pact with the Justice Department.

Read on.

2 responses to “Revolvng door: U.S. Treasury anti-laundering head to join HSBC – sources

  1. Imagine if You will an Insurance Company for the Banks,,,, Lying, Cheating and Hiding the Pooh Pooh on Thousands of Banks that Financially Gang Raped the Whole Country, Gang Raped the Whole World …… Imagine Corrupt Lying Cheating and Hiding the Records at FDIC …….. https://vimeo.com/164492200

  2. Back in the Day FDIC Bank Liquidation Specialist KAT Woolford went to Carlyle Group’s Bearing Point 🙂 Good Old Kat went from USAID to World Bank and IMF next. What is truly amazing are those WHITE ELEPHANT PROPERTIES Old Kat liquidated during the MAFIA Caused S&L Debacle ……. Revolving door OMG YES …………. Imagine if You will an Insurance Company for the Banks,,,, Lying, Cheating and Hiding the Pooh Pooh on Thousands of Banks that Financially Gang Raped the Whole Country, Gang Raped the Whole World …… Imagine Corrupt Lying Cheating and Hiding the Records at FDIC …….. https://vimeo.com/164492200

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