31 U.S.C. § 312 — Terrorism and financial intelligence

(a) Office of Terrorism and Financial Intelligence. (1) The Office of Terrorism and Financial Intelligence (OTFI) is created inside Treasury, replacing any earlier office doing this work. (2)(A) The Office of the Undersecretary for Terrorism and Financial Crimes leads OTFI and reports to the Secretary through the Deputy Secretary; it replaces the old Office of the Undersecretary for Enforcement. (B) The President appoints the Undersecretary, with Senate confirmation. (3)(A)-(C) OTFI also has an Assistant Secretary for Terrorist Financing, appointed by the President with Senate confirmation, who runs Treasury's counter-terrorist-financing and anti-money-laundering work and reports to the Undersecretary. (4) OTFI sets policy and strategy for Treasury on: (A) the Bank Secrecy Act; (B) U.S. economic sanctions; (C) fighting terrorist financing; (D) fighting financial crimes like money laundering and counterfeiting; (E) fighting illicit financing tied to human trafficking; (F) other enforcement matters; (G) the intelligence work described in (b); and (H) Treasury's security functions and programs. (5) Within 72 hours of proposing any rule or order to reorganize how Treasury fights money laundering and terrorist financing - and before it takes effect - the Undersecretary and Assistant Secretary must report it to the Senate Banking Committee and House Financial Services Committee. (6) Despite any other law, these Treasury offices sit inside OTFI: the Office of the Assistant Secretary for Intelligence and Analysis; the Office of the Assistant Secretary for Terrorist Financing; the Office of Foreign Assets Control (OFAC); the Executive Office for Asset Forfeiture; the Office of Intelligence and Analysis (OIA); and the Office of Terrorist Financing - each reporting up to the Undersecretary or the relevant Assistant Secretary. (7)(A) FinCEN, a Treasury bureau, reports to the Undersecretary, who can't hand off that reporting authority to anyone else. (B) FinCEN has its own Office of Compliance. (8) After talking with the Undersecretary, the Secretary must pick an OTFI office to coordinate anti-human-trafficking financing work with other Treasury offices, other federal agencies (including the State Department's trafficking office and the Interagency Task Force to Monitor and Combat Trafficking), state and local law enforcement, and foreign governments. (b) Office of Intelligence and Analysis. (1) The Assistant Secretary for Intelligence and Analysis heads the OIA. (2) OIA receives, analyzes, organizes, and shares intelligence and counterintelligence information tied to the work of the entire Treasury Department, including all its offices and bureaus. (3) OIA's main jobs are: (A) building strong terrorist-finance analysis by coordinating intelligence analysts across Treasury, focused on top priorities, while meeting OFAC's and FinCEN's intelligence needs; and (B) giving intelligence support to senior Treasury officials on international economic and other issues. (4) OIA also: (A) carries out the intelligence-support duties assigned to the old Office of Intelligence Support under section 311, per the Intelligence Authorization Act for Fiscal Year 2004; (B) acts as Treasury's liaison to the intelligence community; and (C) represents Treasury in intelligence-related activities. (5) The Assistant Secretary for Intelligence and Analysis is Treasury's Senior Officer in the Intelligence Community and represents Treasury on intelligence community bodies, including National Foreign Intelligence Board committees and the Intelligence Community Management Staff. (c) Delegation. Any enforcement-related powers once delegated to the Undersecretary or to certain other named Assistant Secretary or Deputy Assistant Secretary positions - that haven't already moved to Homeland Security, Justice, or the Assistant Secretary for Tax Policy (for customs revenue functions) - stay delegated to the Undersecretary for Terrorism and Financial Crimes. (d) Designation as Enforcement Organization. OTFI, including its component offices, counts as a Treasury law enforcement organization for purposes of section 9705 of Title 31 and related authorities. (e) Use of Existing Resources. The Secretary can use Treasury personnel, facilities, and other resources already available to carry out this section, unless another law forbids it. (f) References. In this section, words like "Secretary," "Undersecretary," "Deputy Secretary," "Deputy Assistant Secretary," "Office," "Assistant Secretary," and "Department" mean Treasury Department positions and offices, unless stated otherwise. (g) Special Hiring Authority. (1) The Secretary can hire people directly into OTFI jobs without following the normal competitive-hiring steps in Title 5. (2) Their main job must be supporting the duties listed in (a)(4)(A) through (G). (h) Deployment of Staff. Despite a federal regulation (5 C.F.R. § 300.301), the Secretary can move any OTFI employee to any OTFI position the Secretary decides needs filling.