The Treasury Department's Financial Crimes Enforcement Network (FinCen) has decided to save money by eliminating positions that help state law enforcers obtain access to data on documents that monitor suspicious money flow.
The department will save almost $1.4 million by axing nine full-time jobs. Those employees had access to the data and helped law enforcers obtain it. Without those positions, states are nervous that their investigations could be stymied.
"For very, very small savings, we're looking at having a very major negative impact on investigations," Cameron Holmes, senior litigation counsel for the Arizona Attorney General's Office, told Complinet. "It is far, far, far out of proportion to the savings."
The data includes reports from banks, broker-dealers and money services businesses on transactions they believe to be underhanded, or that are conducted with large amounts of cash.
The cuts are scheduled to take place in October. (Reuters)
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1. Hand out resumes, not business cards.
2. Have a good handshake.
3. Be brave: walk up to a recruiter and launch your elevator pitch.
(Source: U.S. News Money)
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