Terrorist Responses to Improved U.S. Financial Defenses: Hearing Before the Subcommittee on Oversight and Investigations of the Committee on Financial Services, U.S. House of Representatives, One Hundred Ninth Congress, First Session, February 16, 2005 |
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activity agencies Al Qaida anti-money laundering areas assets Assistant Secretary Bank Secrecy Act certification regime Chairman KELLY Chairwoman charitable sector charities CLEAVER compliance Congress countries criminal dealers delegation diamond trade Dubai efforts ensure Farah financial crime financial institutions financial services funds gemstones GEOFF DAVIS global gold GUTIERREZ hawala Hezbollah identify illicit important industry intelligence community international financial system issue IVTS Kimberley Process kleptocracy Laden law enforcement Liberia Madam Chair Mallory Factor million money laundering money service businesses move money MSBs national security threats networks OFAC and FinCEN Office operations outreach Oversight and Investigations PATRIOT Act Qaeda Qaida regulations regulatory requirements role sanctions Saudi Arabia strategies Subcommittee on Oversight Taliban tanzanite targeted Terrorism and Financial terrorist financing terrorist groups testimony TFFC Thank transactions Treasury Department U.S. and international U.S. government USA Patriot Act vulnerabilities WASSERMAN SCHULTZ West Africa
Popular passages
Page 77 - CRA is directed primarily at the four federal agencies that supervise the institutions covered by the law — the Board of Governors of the Federal Reserve System (the...
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Page 84 - Treasury administers and enforces economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries, terrorists, international narcotics traffickers, and those engaged in activities related to the proliferation of weapons of mass destruction.
Page 62 - ... conceal or obscure the clandestine diversion of funds intended for legitimate purposes to terrorist organisations. IX. Cash couriers Countries should have measures in place to detect the physical cross-border transportation of currency and bearer negotiable instruments, including a declaration system or other disclosure obligation.
Page 37 - Because we do not today have a clear sense of how many financial and human resources are actually devoted to the various tasks involved in combating terrorist financing, it is impossible to make fully informed, strategic decisions about whether functions are duplicative or resource allocations are optimal. For this reason, the NSC and OMB should conduct a cross-cutting analysis of all agencies...
Page 5 - Chairman and distinguished members of the subcommittee. Thank you very much for this opportunity to discuss the Deepwater system.
Page 59 - ... works" from being misused or exploited by the financiers of terrorism. Statement of the Problem 4. Unfortunately, numerous instances have come to light in which the mechanism of charitable fundraising - ie, the collection of resources from donors and its redistribution for charitable purposes- has been used to provide a cover for the financing of terror. In certain cases, the organisation itself was a mere sham that existed simply to funnel money to terrorists. However, often the abuse of nonprofit...
Page 77 - Currency ("OCC"), the Federal Deposit Insurance Corporation ("FDIC"), the Office of Thrift Supervision ("OTS"), and the National Credit Union Administration ("NCUA").
Page 35 - Treasury to require domestic financial institutions and agencies to take "special measures" against certain parties, including both institutions and jurisdictions, believed by the Treasury to be engaged in money laundering/terror financing.
Page 37 - US govemment in identifying terror financing may be highly protected intelligence information. In other industries such as defense and transportation, however, persons can be designated by the US govemment to receive access to certain high value information as necessary.