Rachel L. Loeffler was deputy director, Middle East and Africa, of the Office of Terrorist Finance and Financial Crimes at the U.S. Department of the Treasury. In this capacity, she has led the U.S. delegation to the Middle East North Africa Financial Action Task Force (MENAFATF) and works with governments and the private sector to combat the financial underpinnings of terrorism, weapons proliferation, rogue regimes, and a host of other national security threats. Her prior experience includes financial work at Carlson Capital L.P., Moody’s Investors Service and Marakon Associates, a strategy consulting firm. She was also a Carnegie Endowment for International Peace Junior Fellow from 1997–1998, where she published articles on ethnic conflicts and security arrangements in the former Soviet Union. Ms. Loeffler received her MBA/MA from the Wharton School and the Lauder Institute at the University of Pennsylvania and her BA from Princeton University’s Woodrow Wilson School of Public and International Affairs. She spent the fellowship year based at the Miller Center of Public Affairs at the University of Virginia.
Financial sanctions have become a key tool of U.S. foreign policy. Measures taken against Iran and North Korea make clear that this new financial statecraft can be effective, but true success will require persuading global banks to accept a shared sense of risk.