Stopping Terror Finance: Securing the U.S. Financial Sector, Report Prepared by the Staff of the Task Force to Investigate Terrorism Financing, Committee on Financial Services, U.S. House of Representatives, 114th Congress, Second Session, December 20, 2016 [open pdf - 2MB]
This congressional report, 'Stopping Terror Finance: Securing the U.S. Financial Sector,' was prepared by the Committee on Financial Services of the U.S. House of Representatives. From the Introduction: "Terrorist financing describes a form of financial crime in which an individual or entity solicits, collects, or provides funds 'with the intention that [these funds] may be used to support terrorist acts or organizations.' While terrorists can benefit from big donations of deep-pocketed financiers sympathetic to their cause, terrorist financing often involves relatively small-dollar amounts and itself is just a subset melting into the larger stream of all financial crime occurring in the international financial system. The threat to national security from terrorist financiers is real, so while U.S. policymakers have long recognized the idea that 'following the money' through the retail banking system can help combat terrorism and related forms of illicit finance, new financing technologies have arisen since the September 11, 2001, terror attacks that require constant renewal of detection and disruption methods. […] The bipartisan Task Force to Investigate Terrorism Financing of the Financial Services Committee (Task Force) was authorized for two six-month terms during the 114th Congress to probe the growing terrorist financing problem. The Task Force held eleven hearings, and its 21 Members systematically examined how select terror groups and actors acquire and move funds illicitly. The hearings featured expert testimony from current and former U.S. government employees, with witnesses from both the U.S. and overseas, on a wide range of topics."
United States House Committee on Financial Services: https://financialservices.house.gov/