adam szubin, washington d.c. to be the undersecretary of the treasury for terrorism and financial crimes. adam szubin if confirmed will be the third undersecretary of the treasury with the responsibility for the office of terrorism and financial intelligence. the lenders to the secretary reports directly to the secretary. this position we realize is responsible for exercising the dual mission of combating terrorists financing and money laundering while overseeing enforcement of that nation's constantly evolving sanctions program. the undersecretary also receives a number of separate policy, regulatory and enforcement options such as the office of terrorism and financial crimes, the office of foreign assets control in the office of intelligence and analysis, the treasury executive officer for asset forfeiture and the financial crimes enforcement network. adam szubin comes to the undersecretary's office for 14 years of government experience. he has participated in several international negotiations including the pr

that's adam szubin on the screen. he's the acting secretary, undersecretary. this has been under way for about an hour. live coverage here on c-span. >> that you have treasury to the president's interagency to monitoring and combating human trafficking in persons. this is the key agency for any money laundering programs. so i will now if you'll commit to working with me to make sure that both regulators and the financial industry are doing everything possible to shut down financing for human trafficking. mr. szubin: senator, i'm pleased to make that commitment. i couldn't agree more about the severity, i think the escalating severity of the threat. i think you'll be pleased to hear that i was being briefed earlier this week by the director of fnsa about their efforts and they've seen a tremendous jump in reporting from financial institutions after finsn put out an advisory alerting financial institutions to sort of the red flags or hallmarks of human trafficking in terms of the financial transactions, they've gotten thousands of suspicious activity reports tha

adam szubin has served in both republican and democratic positions regarding economic sanctions are infinancing. he is qualified for this position. children, his wife, his parents. undersecretarybe szubin, i want to underscore a point. my democratic colleagues and i have been making it to chairman for months about pending banking committee nominations. for nine months, the committee has failed to act upon the president's nominees. we had not held a single nomination hearing before today. we have been unhappy for eight plus months about this. contrast, when the senate and white house control were also divided, the banking beforeee held a three the recess and they nominated more than a dozen. given all the concern around terrorist financing, you would think this financing would be a priority. undersecretary stuart leavy was confirmed just three weeks after it was sent to this committee. his immediate predecessor took three and a half months. some nominees have been waiting since january just for a hearing. they deserve hearings and a vote. i hope the chairman will move it onto this and i