On the recordSeptember 15, 2016
I rise today to discuss the issue of terrorism financing, especially with regard to the terrorist group ISIS, known by some as ISIL, or other terminology referring to ISIS itself. Just days ago, we marked the 15th anniversary since the terrorist attack on our country on September 11, 2001. At the time, the United States had a fundamentally different understanding of terrorist groups, their ideologies, and their operations. In the years since, our national security apparatus has grown and adapted, responding to evolving threats and prioritizing the fight against terrorism and violent extremism. For example, prior to 9/11, the Department of the Treasury was not as significant in our fight against terrorism as it is today. An act of Congress established the Treasury Office of Terrorism and Financial Intelligence in 2004. Since then, this office has grown into an essential component of our counterterrorism work. They are charged with the task of cutting off the financial resources that terrorist groups need to survive. The terrorist group ISIS presents challenges, a whole new set of challenges. Similar to Hezbollah, ISIS is part terrorist group, part army, and part criminal syndicate fueled by a hateful ideology and controlling communities in Syria and Iraq. We know that ISIS has sacked banks and still profits from the illicit sale of oil, antiquities, and other items through the black market while extorting the civilians under their control.…





