On the recordJuly 11, 2016
I thank Chairman Fitzpatrick and Ranking Member Lynch. Over the course of the past year, the Task Force to Investigate Terrorism Financing has found that U.S. Government efforts to counter the financing of terrorism lack sufficient coordination and that the United States has no unified national strategy to guide our counterfinancing efforts. The Federal Government must change its approach and mindset to counter the financing of terrorism, and this is why Chairman Fitzpatrick and I introduced this bipartisan legislation to direct the Secretary of the Treasury, in coordination with relevant Federal agencies, to establish a whole-of-government strategy to combat the financing of terrorism and related forms of illicit finance. This strategy must include: a critical assessment of the effectiveness of U.S. efforts to fight terrorist financing; ways to improve coordination with international, State, and local law enforcement and the private sector; and a comprehensive discussion of threats, goals, objectives, and priorities for disrupting and preventing terrorist financing. The strategy should enhance detection, deterrence, prosecution, and ultimately strengthen our broader national security goals. Our legislation forces the Federal Government to create a whole-of- government strategy to counter terrorism financing that improves the effectiveness of our efforts and better aligns these efforts with our broader national interests.…





