Mr. Speaker, I want to talk briefly about one aspect of our fight against terrorism that is often overlooked, and that is our efforts to detect and eradicate terrorist funding networks around the world. The fight against terror finance…
Mr. Speaker, I want to talk briefly about one aspect of our fight against terrorism that is often overlooked, and that is our efforts to detect and eradicate terrorist funding networks around the world. The fight against terror finance goes hand in hand with the war on terror.
Terrorists infiltrate our financial systems to distribute the money that they need to support their evil activities around the globe. They exploit a wide variety of alternative funding networks that range from charities to commonplace criminal activity like drug peddling and illegal cigarette sales.
My colleagues would likely agree that while we may have targeted the financial resources of terrorists networks at times prior to 9/11, the fight against terror finance didn't begin in earnest until after the 9/ 11 attacks.
The 9/11 hijackers used U.S. and foreign banks to transfer the roughly half-million dollars necessary to the plan to execute their attacks on America.
We fought back against terror financiers with people like Dennis Lormel, a veteran FBI agent who was tasked with tracking down the financial lifelines that enabled the 9/11 hijackers to operate.
We fought back with people like David Aufhauser, who was then general counsel at the Treasury Department who was put in charge of a small interagency terror finance group which met regularly at the White House after 9/11.
And we fought back here in this House. Chairman Oxley and the ranking member, Mr. Frank, convened a Financial Services Committee hearing on terror finance just 3 weeks after the attacks. Shortly thereafter, this body passed the PATRIOT Act, which provided critical new terror finance tools.
We have held numerous hearings since to improve the government's antiterror finance efforts and to identify which foreign countries need to do more to stop terror financing within their borders.
And we have created the bipartisan Congressional Anti-Terrorist Financing Task Force to bring a stronger focus on bolstering our fight against terror financiers.
In just a few years, we have made significant progress in combating terror-funding networks. We still have a long way to go, but we are on the right track.
Last December, the 9/11 Commission came out with a report card grading the government's response to 9/11. The government's efforts against terror finance got the highest grade of them all, an A minus.
Just last week, an al Qaeda planning document was found in al Zarqawi's hideout which laments our successes in restricting the al Qaeda financial outlets. This House has played an important role in this effort, and it has been approached in a bipartisan way even when dealing with terror finance in Iraq. Continued progress on this complex issue requires a sustained commitment from our Congress.
Last year, members from both sides of the aisle joined me in a letter pressing Syria for more action in stopping the flow of fighters and finances into Iraq.
Members from both sides of the aisle joined me in asking the government of Italy to crack down on open fundraising efforts for Iraqi terrorists in their country.
As we move forward, our challenges continue to grow more daunting as terrorists perpetually adapt to our methods to stop them. They are constantly finding new ways to raise and distribute money.
So we must work even harder to keep up with terrorists' ever-changing financing techniques. We must continue pressing foreign governments to do the same.
Continued progress on this complex issue requires a sustained commitment from Congress. By stopping the flow of terrorist money, we can diminish the ability of terrorists to attack our citizens and our country. Fighting terror finance must remain a critical component of the War on Terror.