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FOR IMMEDIATE RELEASE
February 14, 2012
CONTACT: Steve Hudak
703-905-3770

Peter S. Alvarado Named New FinCEN Deputy Director

VIENNA, Va. - The Financial Crimes Enforcement Network (FinCEN) Director James H. Freis, Jr. this week named Peter S. Alvarado as FinCEN's new Deputy Director. Alvarado comes to FinCEN from the Internal Revenue Service Criminal Investigations Division (IRS-CI) where he served for 27 years, most recently as the Deputy Director of Strategy.

"Peter brings with him extensive experience as an investigator, working closely with local, State and Federal law enforcement on a wide range of financial crimes as well as strong leadership in strategic planning, policy management, and international operations," said Director Freis. "I'm extremely pleased to welcome Peter to FinCEN and look forward to the benefits of his continuing commitment to public service."

As Deputy Director, Alvarado is responsible for working with the law enforcement, intelligence, financial, and regulatory communities to ensure the effective coordination of anti-money laundering and anti-terrorist financing initiatives. Alvarado also provides operational leadership and performs the full range of supervisory and managerial functions for FinCEN including planning, coordinating, allocating and assessing tools, capabilities, and resources to best enable FinCEN to continue to efficiently execute its mission.

Alvarado began his career at the IRS-CI as a Special Agent investigating tax fraud, money laundering and currency violations of the Bank Secrecy Act. In 1998, Mr. Alvarado was promoted to Supervisory Special Agent and led a team of agents involved in a variety of investigations relating to corporate fraud, tax shelters, investment schemes, insurance fraud, bankruptcy fraud, embezzlement, and narcotics.

In 2001, Alvarado was appointed as Senior Analyst at IRS-CI's headquarters in Washington, D.C. Assigned to the Financial Crimes Section, he had oversight over programs including those relating to offshore tax evasion. He was subsequently promoted to Assistant Special Agent in Charge of the New York Field Office where, among other responsibilities, he oversaw the investigations of large sophisticated tax shelters. He also directed the activities of a group dedicated to asset forfeiture investigations. Mr. Alvarado was subsequently appointed Special Agent In Charge of the Philadelphia Field Office responsible for planning, directing, and evaluating investigations of public corruption, corporate fraud and investigations relating to counterterrorist financing in the Middle and Eastern Judicial Districts of Pennsylvania.

Mr. Alvarado returned to IRS-CI headquarters as its deputy director providing leadership in Human Resources, Finance, National Criminal Investigation Training Academy, Planning and Strategy, Review and Program Evaluation, and Research. In 2010, Alvarado was appointed Special Agent in Charge of IRS-CI's newly formed Office of International Operations, where he was responsible for the operational and policy management of its overseas workforce.

Alvarado is a graduate of California State University Los Angeles and Whittier Law School. He is a member of the bars of California and Washington, D.C.

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F inCEN's mission is to enhance U.S. national security, deter and detect criminal activity, and safeguard financial systems from abuse by promoting transparency in the U.S. and international financial systems.





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