Jennifer Shasky Calvery, a veteran of the Department of Justice, is joining the Treasury to replace outgoing Financial Crimes Enforcement Network (FinCEN) director Jim Freis.

Shasky Calvery will assume her new duties next month as Freis departs after serving for five years.

FinCEN is a unit of the Treasury that protects the U.S. financial system from money laundering and illicit financial activity.

Shasky Calvery served the DOJ as chief of the asset forfeiture and money laundering section, where she oversaw a 150-person staff and a program that oversaw the forfeiture of more than $1.5 billion in criminal assets.

During her time at the DOJ, Shasky Calvery restructured the law enforcement section's prosecutorial and enforcement areas associated with the Bank Secrecy Act. She also worked closely with the Treasury in investigating strategies and regulatory initiatives designed to combat illicit financial activity.

"I am delighted to welcome Jennifer as the new FinCEN Director and as a key member of my senior leadership team. Her proven record of leadership and strong working relationships with Treasury, law enforcement and the federal bank regulatory agencies will be enormous assets to us as we work together to chart a course for FinCEN’s future," said Under Secretary for Terrorism and Financial Intelligence David Cohen. "I thank Jim Freis for his years of dedicated service during which he has guided FinCEN in its critical missions of administering the Bank Secrecy Act and serving as the United States Financial Intelligence Unit."