Lynch Holds Task Force Hearing to Examine U.S. Efforts to Halt Terrorism Financing

Statement

Today, the Financial Services Committee's Task Force to Investigate Terrorism Financing held its fifth hearing, which focused on examining the federal government's efforts to disrupt terrorism financing. Congressman Stephen F. Lynch (D-Boston) serves as the lead Democrat on the Task Force.

"The United States has a robust framework of regulations, which squeezes terrorists out of the formal financial system and promotes collaboration among law enforcement and international financial intelligence agencies," said Ranking Member Lynch. "As ISIL utilizes illicit oil sales, regional taxation, and antiquities dealing to fund its terrorist activities, our national and global approach to disrupt terror financing must evolve to address these modern complexities. Over the past six months, the Task Force has worked diligently to examine areas for improvement. Today's witnesses provided important insight into how Congress can work in a bipartisan manner to strengthen our federal policies to halt the bankrolling of extremism."

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