U.S. lawmakers on Wednesday unveiled a legislative package that would expand interbank data-sharing under the Patriot Act and grant federal officials new resources to identify assets linked to terrorist organizations. The five bills introduced by leading members of the House Financial Services Committee's Task Force to Investigate Terrorism Financing, which has held nearly a dozen hearings over a 15-month period, would obligate federal officials to study how they engage with other countries and domestic banks in efforts to thwart terrorism. The measures would also require the U.S. government to annually publish a "national strategy" for countering the funding of terrorism-a...
Officials from U.S. government agencies and executives of the world's largest financial institutions comprehend their critical role in preventing terrorist groups from raising funds and are working together to achieve that objective, but more needs to be done, according to a U.S. lawmaker.
Proposed legislation that would enable the White House to impose economic penalties on governments that turn a blind eye to terror financiers is gaining bipartisan support in the U.S. Senate.
U.S. lawmakers are readying a raft of legislative proposals aimed at bolstering federal oversight of trade and corporate ownership data and incentivizing foreign entities to share intelligence on suspected terror funding.
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