The wire transfer, which came from a Kremlin-backed Russian bank, landed in one of the embassy’s Citibank accounts and contained a remarkable memo line: “to finance election campaign of 2016.”
The committees have formally requested a wide range of banking and financial records on numerous individuals and businesses with ties to Russia from the Treasury Department’s Financial Crimes Enforcement Network, or FinCEN for short.
Specifically, the Senate Intelligence Committee committee asked FinCEN for “any actions” the agency took to support law enforcement or intelligence inquiries about these individuals and businesses, any documents it sent to the FBI, and any requests for information it sent to banks.
Federal law also requires financial institutions to file reports on any cash transactions of more than $10,000 in a single day, even if those transactions are legitimate.
“How could we not investigate a suspicious financial transaction that contained a memo that said, ‘finance election campaign 2016?’ Given the climate and what was in that memo line it would be very irresponsible for us not to investigate.