U.S. efforts to disrupt terrorist financing schemes have put organizations such as Al Qaida in dire financial straits. That was the assessment of Assistant Secretary for Terrorist Financing David S. Cohen, in a speech Monday at the ABA/ABA Money Laundering Enforcement Conference. The speech was an opportunity to highlight counter-terrorist financing efforts while calling for increased cooperation between the government and the private financial sector. Even a cursory review of the application of U.S. counter-terrorism policies reveals not only that they are crippling the support structure underpinning international terrorist organizations, but that the effectiveness of these policies has forced these groups to "fundraise" in ways that are more likely to be detected—ordinary criminal activity.
As Cohen explained, the U.S. Treasury Department's Office of Terrorism and Financial Intelligence has been focused on "developing policy to combat all manner of illicit finance at home and abroad—from mortgage fraud to money laundering, from transactions facilitating WMD proliferation to those funding terrorists." By employing provisions in Title III of the USA PATRIOT Act, Treasury has played a central role in combating nuclear proliferation, assisted in the fight against narco-terrorism, and destabilized the financial support structure of international terrorist groups. Read more ...
As Cohen explained, the U.S. Treasury Department's Office of Terrorism and Financial Intelligence has been focused on "developing policy to combat all manner of illicit finance at home and abroad—from mortgage fraud to money laundering, from transactions facilitating WMD proliferation to those funding terrorists." By employing provisions in Title III of the USA PATRIOT Act, Treasury has played a central role in combating nuclear proliferation, assisted in the fight against narco-terrorism, and destabilized the financial support structure of international terrorist groups. Read more ...
Source: IPT News
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