National Strategy for Combating Terrorist, Underground, and Other Illicit Financing Act
Floor Speech
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Mr. HILL. I thank the chairman for yielding. I thank Mr. Lynch for his important legislation, H.R. 5594, which I stand in support of and as a cosponsor of today.
I want to thank Chairman Fitzpatrick and Chairman Hensarling for the opportunity to serve on this critical task force on terror financing. It is an important but less-discussed part of the war on terror.
This war on terror requires a more nuanced approach to achieve victory than previous U.S. conflicts. It requires the full coordination and collaboration of allied financial, cyber, diplomatic, and military capabilities. And one of the most underreported aspects of winning this war has been infiltrating and cutting off sources of funding for terrorist groups.
Like its occasional intermittent engagement, accompanied by long periods of lack of resolve, lack of clear rules of engagement that would produce victory, occasionally, this administration has not been consistent in pressing for victory in the war on terror finance. But since San Bernardino and Paris, we see the administration aggressively targeting ISIS' funding sources.
Instead of intermittent, we need a coordinated strategy to combat terror finance between all of our government agencies and with our allies to make sure it is the most effective in countering this menace.
The Financial Crimes Enforcement Network, or FinCEN, is our Nation's front line at the Treasury for government-to-government and enhanced government-to-private sector coordination that this national strategy puts in full force.
I was pleased to cosponsor Mr. Lynch's amendment that was passed in last week's Financial Services appropriations legislation that includes an increase for FinCEN's budget.
I am proud to join my colleague, Mr. Fitzpatrick, and our committee on this important bill to require a national strategy to combat terrorism, underground, and other forms of illicit finance. I urge my colleagues to support this important bill.
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