Counterterror Initiatives in the Terror Finance Program: Hearings Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundred Eighth Congress, First and Second Sessions on Counterterror Initiatives in the Terror Finance Program, Focusing on the Role of the Anti-Money Laundering Regulatory Regime in the Financial War on Terrorism, Better Utilization of Technology, Increased Information Sharing, Developing Similar International Standards, and the Formation of the Terrorist Financing Operations Section (TFOS), September 25, October 22, 2003, April 29, and September 29, 2004 [open pdf - 3MB]
From the opening statement of Richard C. Shelby: "Today is the first in a series of hearings concerning the difficult issues surrounding the financing of terror. Indeed, President Bush recognized the need for this campaign, and within 2 weeks of September 11, 2001, stated, 'Money is the lifeblood of terrorist operations today. We are asking the world to stop payment.' Terror financing takes on an international dimension that seeks to use to its advantage the global economy and a financial industry that freely crosses borders under the cover of legitimate transactions and the ease and convenience of wire and computer technology. If money is the 'lifeblood' of the terrorist, it is also his poison. Money leaves a trail and a signature which can and must be used to identify, track, disrupt, and dismantle the terrorist organizations which support those who would target innocent people and our way of life. As important as a military campaign, the enforcement effort, and the intelligence collection, it is not possible to overstate the importance of following the money as an equal partner in our coordinated war against terror. Without the efforts of the United States and the world community to develop and to implement comprehensive programs which target all aspects of the use of terror funds and share each bit of information from the single wire transfer to the bulk cash smuggling operation, the other mandates may well fail." Statements, letters, and materials submitted for the record include those of the following: David D. Aufhauser, John S. Pistole, E. Anthony Wayne, Richard A. Clarke, Louise Richardson, Jean-Charles Brisard, Matthew A. Levitt, Richard C. Shelby, Paul S. Sarbanes, Stephen J. Brogan, Robert Bennett, Elizabeth Dole, Chuck Grassley, Charles Schumer, Jon S. Corzine, Jim Bunning, and Wayne Allard.
S. Hrg. 108-802; Senate Hearing 108-802
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