Terrorism and Financial Intelligence 

Program Summary by Budget Activity 

Dollars in Thousands 

 FY 2020 FY 2021 FY 2022 FY 2021 to FY 2022 

Budget Activity Operating Plan Operating 

Plan Request $ Change % Change 

Terrorism and Financial Intelligence $169,712 $175,000 $185,192 $10,192 5.82% 

Subtotal, TFI $169,712 $175,000 $185,192 $10,192 5.82% 

Offsetting Collections - Reimbursable $8,543 $10,500 $10,500 $0 0.00% 

Total Program Operating Level $178,255 $185,500 $195,692 $10,192 5.49% 

Direct FTE 477 551 575 24 4.36% 

Reimbursable FTE 39 35 41 6 17.14% 

Total Full-time Equivalents (FTE) 516 586 616 30 5.12% 

Summary 

The Department of the Treasury’s Office of Terrorism and Financial Intelligence (TFI) requests 

$185.192 million, which is a $10.192 million increase from the FY 2021 enacted level. TFI 

requests these additional resources to continue to invest in its people as well as infrastructure, 

systems, and automated tools, thereby ensuring that TFI remains agile, innovative, and strategic 

in responding to the most pressing U.S. national security concerns. The budget prioritizes 

funding for Treasury’s targeted financial tools that protect the U.S. and international financial 

system from abuse, as well as countering the financial networks that support terrorists, weapons 

proliferators, organized transnational crime, rogue regimes, and other threats. This request 

covers three TFI components: 1) the Office of Terrorist Financing and Financial Crimes (TFFC), 

responsible for policy and outreach such as U.S. representation to the Financial Action Task 

Force (FATF); 2) the Office of Intelligence and Analysis (OIA), the sole intelligence community 

(IC) component in the Department of the Treasury; and 3) the Office of Foreign Assets Control 

(OFAC), which administers and enforces economic and trade sanctions. Separate requests were 

provided for: 1) the Financial Crimes Enforcement Network (FinCEN), responsible for BSA and 

CTA regulation, and 2) the Treasury Executive Office for Asset Forfeiture (TEOAF). 

TFI’s economic authorities continue to play an increasingly central role in countering some of 

the nation’s most critical security threats. This Administration and Congress rely upon TFI to 

develop strategies that employ all targeted financial measures, including sanctions, to implement 

U.S. national security and foreign policy goals towards China, Iran, Russia, Venezuela, Burma, 

Islamic State of Iraq and Syria (ISIS) and other terrorist organizations, human rights abusers and 

corrupt actors, narcotics traffickers, and other malign and destabilizing actors. This request also 

includes targeted tools that protect the U.S. and international financial system from abuse by 

illicit actors, to include unexpected challenges such as COVID 19-related illicit finance concerns. 

As reliance upon TFI’s authorities has grown, the corresponding growth in personnel across TFI 

and increased demand placed upon secure systems requires additional investment in mission 

support areas. TFI’s infrastructure investments have been developed with careful consideration 

of the personnel increase request with the intent of developing and maintaining a collaboration 

network that facilitates our operational and policy goals. 

 
Budget Highlights 

 FTE Amount 

FY 2021 Operating Plan 551 $175,000 

Changes to Base: 

Maintaining Current Levels (MCLs): 0 $4,817 

Pay Annualization (1.0% average pay raise) 0 $234 

Pay Raise (2.7% average pay raise) 0 $2,119 

FERS Contribution Increase 0 $836 

Non-Pay 0 $1,628 

Other Adjustments: 8 $0 

Contracts 0 ($1,330) 

FTE Adjustment 8 $1,330 

Subtotal Changes to Base 8 $4,817 

FY 2022 Current Services 559 $179,817 

Program Changes: 

Program Adjustments 16 $0 

Non-recur 0 ($2,750) 

FTE Adjustment 16 $2,750 

Program Increases: 0 $5,375 

Replacement of End of Life Servers 0 $1,659 

IT Modernization 0 $3,716 

FY 2022 President's Budget Request 575 $185,192 

Budget Adjustments 

Maintaining Current Levels (MCLs) ....................................................... +$4,817,000 / +0 FTE 

Pay Annualization (1.0%) +$234,000 / +0 FTE 

Funds are requested for annualization of the January 2021 1.0% average pay raise. 

Pay Raise (2.7% in 2022) +$2,119,000 / +0 FTE 

Funds are requested for a 2.7% average pay raise in January 2022. 

FERS Contribution Increase +$836,000 / +0 FTE 

Funds are requested for the Federal Employee Retirement System (FERS) contribution rates 

effective FY 2022. 

Non-Pay +$1,628,000 / +0 FTE 

Funds are requested for non-labor expenses such as travel, contracts, rent, supplies, and 

equipment. 

Other Adjustments .................................................................................................... +$0/ +8 FTE 

Contracts -$1,330,000 / -0 FTE 

As a result of hiring delays due to the pandemic, funds initially intended to support FTE 

increases were re-programmed to finance one-time contract requirements in FY 2021. These 

funds are no longer needed to support contracts in FY 2022. 

 
FTE Adjustment +$1,330,000 / +8 FTE 

The FY 2022 Budget reflects a +8 FTE technical adjustment from the FY 2021 Enacted Budget. 

This technical adjustment reflects increased efforts at TFI to hire and on-board new staff as 

provided for in prior year budget requests and includes delays to the hiring process as a result of 

the pandemic. 

Program Adjustments ........................................................................................... +$0 / +16 FTE 

Non-recur -$2,750,000 / +0 FTE 

These funds are no longer needed to support renovation requirements in FY 2022 and can 

support expanded staffing. 

FTE Adjustment +$2,750,000 / +16 FTE 

The FY 2022 Budget reflects a +16 FTE technical adjustment from the FY 2021 Enacted Budget. 

This technical adjustment reflects increased efforts at TFI to hire and on-board new staff with 

funds no longer required for use towards renovations that program anticipates will be completed 

in FY 2022. 

Program Increases ..................................................................................... +$5,375,000 / +0 FTE 

Replacement of End of Life Servers +$1,659,000 / +0 FTE 

Funds are requested for TFI’s portion of a larger DO project to replace servers that have now 

reached the end of their useful life. Over the past several years, DO has prioritized its policyrelated mission by restricting inflationary increases for DO management offices. These 

reductions have impacted all facets of management, to include the Office of the Chief 

Information Officer. 

IT Modernization +$3,716,000 / +0 FTE 

Funds are requested for TFI’s portion of a larger DO project to modernize critical equipment and 

software that supports the TFI workforce’s fundamental information technology needs. 

Legislative Proposals 

The Office of Terrorism and Financial Intelligence has no legislative proposals. 

Performance Highlights 

TFI created new indicators and measures, which are being presented for the first time in this 

FY 2022 Budget. The table below reflects actuals FY 2020. 

Performance Measure 

FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 

Actual Actual Actual Target Target 

Regulatory documents published in the Federal 

Register within four months of publication of an 

Executive order or Congressional mandate 

during the fiscal year

N/A N/A 67% 75% 75% 

Designations and identifications released on 

time to the public without errors N/A N/A 97% 90% 90% 

Respond to de-confliction requests received 

from law enforcement N/A N/A 7 days 7 days 7 days 

Percent customer satisfaction with OIA 

products N/A N/A 

Customer 

Satisfaction Surveys 

not conducted in FY 

2020 due to the 

COVID-19 

pandemic. 

74% 74% 
Description of Performance 

TFI has strategically applied Treasury’s powerful tools and authorities against bad actors, 

including rogue regimes, terrorist financiers, human rights abusers, proliferators of weapons of 

mass destruction, drug kingpins, and others. Since the beginning of FY 2020, Treasury has 

established four new and six modified sanctions programs. This included the use of tools and 

authorities to deter Iran’s nuclear and ballistic missile program, hindering Iran’s support of 

global terrorism, and offsetting efforts to destabilize the Middle East, Burma, Hong Kong, 

Venezuela, and others. 

The introduction of new government programs in response to COVID-19 and the economic 

distress caused by the pandemic resulted in an uptick in fraud and illicit activities. Treasury 

worked with the federal banking community to coordinate an interagency response and publish 

advisories for financial institutions (Advisories). 

In FY 2020, Treasury further expanded its role in cybersecurity through the creation of the Cyber 

Analysis Office, which worked with governmental partners and major financial institutions to 

gather intelligence aimed at disrupting global cyber theft operations. OIA’s Cyber Analysis 

Office also augmented analytic resources to detect and analyze emerging trends in state and nonstate use of virtual currencies to undermine U.S. national security. In September 2020, TFI 

worked with the Department of Justice and Department of Homeland Security to sanction two 

Russian nationals for their involvement in a sophisticated phishing campaign that resulted in 

losses of at least $16.8 million in 2017 and 2018.