Skip to content

Washington, D.C. – U.S. Senator Mike Enzi, R-Wyo., said it is important to increase international cooperation and engagement to combat terrorist financing.

Enzi's words came at a Banking, Housing and Urban Affairs committee hearing today held to learn more about the 9/11 Commission's recommendations and the findings of the independent Council on Foreign Relations on how to stop the flow of money to terrorist organizations. Excerpts from Enzi's statement follow.

"One recommendation that clearly stands out in both reports is the need for greater international cooperation and engagement. Immediately following the 9/11 attacks, I had the privilege of working with Sir Jeremy Greenstock, British Ambassador to the United Nations. Ambassador Greenstock was instrumental in the establishment and leadership of the United Nation's Security Council Counter-Terrorism Committee or CTC.

"Under his effective leadership, the CTC was able to gather reports from over 170 individual nations. The reports were just the first step in demonstrating the potential benefits that international cooperation could obtain. However, it is clear that much more work needs to be done.

"While the Department of Treasury has worked with various international groups including the Financial Action Task Force, the United States' attention on bringing international partners to the table is critical in order to stop terrorist financing at its source. Recently, the new head of the Financial Action Task Force indicated that one of his primary goals was to bring China and India into the group before the end of next year. As these countries are fast becoming major financial centers, we too must engage them in our shared goal of ending terrorist financing.

"The international standards developed by Department of the Treasury, the CTC and the Financial Action Task Force are essential to focus everyone's attention on the formal and informal channels of money laundering and terrorist financing."

Witnesses who testified at the hearing today included 9/11 Commission Vice Chair Lee Hamilton and former Washington Senator Slade Gorton, who is also a Commissioner. Mallory Factor, and Lee Wolosky, Vice Chair and Co Director respectively of the Council on Foreign Relations also testified.