Financial Action Task Force on Money Laundering
In 2002, he joined HM Treasury, becoming managing director of Finance, Regulation and Industry, and served until 2006. Sassoon then became the Chancellor's Representative for Promotion of the City. In 2007, he was named President of the Financial Action Task Force on Money Laundering, also responsible for combating terrorism financing. He continued in both roles until 2008. Sassoon received a knighthood in the 2008 New Year Honours. At that time, he began advising David Cameron, then the Leader of the Opposition, and George Osborne, then the Shadow Chancellor of the Exchequer, and became a member of the Shadow Cabinet's Economic Recovery Committee.