What does OTFI mean in GENERAL
The Office of Terrorism and Financial Intelligence (OTFI) is an agency within the U.S. Department of the Treasury which was established in 2004 to combat financial threats posed by terrorists and other entities. The OTFI's mission is to safeguard the financial system against illicit use and to combat rogue nations, terrorist facilitators, weapons of mass destruction (WMD) proliferators, money launderers, drug kingpins and other national security threats.
OTFI meaning in General in Business
OTFI mostly used in an acronym General in Category Business that means Office of Terrorism and Financial Intelligence
Shorthand: OTFI,
Full Form: Office of Terrorism and Financial Intelligence
For more information of "Office of Terrorism and Financial Intelligence", see the section below.
Essential Questions and Answers on Office of Terrorism and Financial Intelligence in "BUSINESS»GENERALBUS"
What is the purpose of the Office of Terrorism and Financial Intelligence?
The Office of Terrorism and Financial Intelligence (OTFI) seeks to protect the global financial system from criminals, terrorists, and other national security threats. Its mission is to safeguard the financial system against illicit use and combat rogue nations, terrorist facilitators, WMD proliferators, money launderers, drug kingpins and other security threats.
What services does the Office of Terrorism & Financial Intelligence provide?
The OTFI provides various services including implementation of executive orders; enforcement actions targeting individuals or entities involved in illicit finance activities; financial sanctions designations; enforcement actions related to counter-terrorism/counter-narcotics programs; intelligence analysis on terrorism financing activities; information sharing with domestic law enforcement agencies; coordination with foreign government authorities on financial sanctions cases;and direct engagement with private sector partners on issues related to terrorism financing prevention.
How does the Office of Terrorism & Financial Intelligence work?
The OTFI works by collecting intelligence data on subjects related to its core mission areas—including terrorism finance trends, identifying bad actors in the global financial system who are conducting illicit activities such as WMD proliferation or money laundering—and then sharing this information with U.S., foreign government counterparts and private sector partners who can take appropriate steps toward neutralizing these threats. It also engages in direct engagements with private sector partners on matters relating to terrorism financing prevention.
Does The Office Of Terrorism & Financial Intelligence have any legal authority?
The OTFI has statutory authority granted by Congress under several statutes including Section 311 of Patriot Act for special measures against certain foreign jurisdictions engaging in activities that pose a threat to U.Sesecurity; Executive Order 13224 used for designating persons aiding WMD proliferation entities ; Title III used for tracking assets associated with narco-trafficking organizations ; Section 104(i)(3), a provision authorizing OFAC regulations concerning prohibitions against transfers involving foreign countries subject to US arms embargoes etc.
Who works at or oversees The Office Of Terrorism & Financial Intelligence?
The OTFI is overseen by Under Secretary for Terrorism And Financial Intelligence Sigal Mandelker who leads a team of professionals responsible for developing policy initiatives as well as implementing them using tools such as economic sanctions or regulatory powers available under US law.
Final Words:
In conclusion, The Office Of Terrorism & Financial Intelligence (OTFI) is an agency within the U.S Department of Treasury established in 2004 that seeks to protect our global financial system from crimes committed by terrorists groups or entities posing a threat to our nation's security through their illegal use of finances around the world.