• Why Jihad Watch?
  • About Robert Spencer and Staff Writers
  • FAQ
  • Books
  • Muhammad
  • Islam 101
  • Privacy

Jihad Watch

Exposing the role that Islamic jihad theology and ideology play in the modern global conflicts

Patriot Act chokes off the flow of terrorist finance

Apr 24, 2004 8:38 am By Robert Spencer

From Treasury Secretary John Snow in Opinion Journal, :

One of the most critical things the 9/11 Commission hearings have brought to light is the important role the Patriot Act plays in helping to win the war on terror. We have heard a lot about “the wall”–a conceptual barrier that prohibited agencies such as the FBI and CIA from communicating freely with each other. That wall was knocked down when President Bush signed the Patriot Act in October 2001.

Sept. 11 compelled our nation to identify the areas we needed to bolster in order to secure our homeland. We have learned a number of very important lessons about the vulnerabilities in our financial system. First, that our ability to combat terrorist financing is linked with our ability to combat money laundering. Second, that we must remain vigilant in our continuing efforts to identify new ways in which terrorists and criminals will attempt to use our own financial system to fuel their agendas. And third, that our ability to obtain and share financial information is critical to our success in identifying and bringing down terrorist networks. …

Under the Patriot Act, banks and other financial institutions are directed to bolster defenses in potentially vulnerable areas. As we strengthen our defenses against financial crimes in traditional financial institutions, such as banks, criminals and terrorists will look to other types of financial institutions or methods through which to move or launder their money. With that in mind, we continue to bring additional types of businesses under the umbrella of anti-money-laundering and anti-terrorist-financing regulation, thereby raising awareness of the issues and equipping these businesses with the tools to protect themselves. …

Additionally, the Patriot Act authorizes the sharing of critical information about suspected terrorist or money-laundering activity–not only between the government and financial institutions, but also among financial institutions themselves–by allowing them to register with the Treasury Department.

As a first step to expand its information-sharing capabilities, Treasury has asked law enforcement authorities to provide the names of suspected terrorists and money launderers. We then review the names and, if appropriate, send them on to financial institutions to search their account and transaction records for potential matches. Matches are forwarded to law enforcement authorities through Treasury. At that point authorities must follow the appropriate legal process to take further steps.

This process has been incredibly helpful to law-enforcement officials’ efforts by saving them critical time and resources. In addition, the financial community has done an exemplary job; institutions large and small have committed themselves to the task, provided valuable leads for law enforcement, and our country is safer because of it. …

Cutting off terrorists from the financial system is fundamental to disrupting their activities. Through our efforts, we continue to make it more difficult for terrorists to move money through formal financial systems, thus exposing them to greater risk of detection. The results are crippling to the networks that want to do us harm.

Perhaps the most important result of the Patriot Act has been the strengthened partnership among the financial community, the government’s financial agencies, and law enforcement, much to the detriment of terrorists. This partnership is the key to our success in choking off the blood money used by terrorists to fuel their agendas of hatred.

Share this:

  • Click to share on Facebook (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
  • Click to print (Opens in new window)
  • Click to email this to a friend (Opens in new window)
  • More
  • Click to share on Skype (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Telegram (Opens in new window)
  • Click to share on Tumblr (Opens in new window)
  • Click to share on Pocket (Opens in new window)
  • Click to share on Pinterest (Opens in new window)

Follow me on Facebook

Filed Under: jihad charities, United States


Learn more about RevenueStripe...

FacebookYoutubeTwitterLog in

Subscribe to the Jihad Watch Daily Digest

You will receive a daily mailing containing links to the stories posted at Jihad Watch in the last 24 hours.
Enter your email address to subscribe.

Please wait...

Thank you for signing up!
If you are forwarding to a friend, please remove the unsubscribe buttons first, as they my accidentally click it.

Subscribe to all Jihad Watch posts

You will receive immediate notification.
Enter your email address to subscribe.
Note: This may be up to 15 emails a day.

Donate to JihadWatch
FrontPage Mag

Search Site

Translate

The Team

Robert Spencer in FrontPageMag
Robert Spencer in PJ Media

Articles at Jihad Watch by
Robert Spencer
Hugh Fitzgerald
Christine Douglass-Williams
Andrew Harrod
Jamie Glazov
Daniel Greenfield

Contact Us

Terror Attacks Since 9/11

Archives

  • 2020
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2019
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2018
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2017
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2016
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2015
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2014
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2013
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2012
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2011
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2010
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2009
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2008
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2007
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2006
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2005
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2004
    • December
    • November
    • October
    • September
    • August
    • July
    • June
    • May
    • April
    • March
    • February
    • January
  • 2003
    • December
    • November
    • October
    • March

All Categories

You Might Like

Learn more about RevenueStripe...

Recent Comments

  • janicevanguilder on New study reveals that Muslim religiosity strongly linked to hatred towards the West
  • Boycott Turkey on Greece, Cyprus, Egypt, France and UAE conduct joint military exercises amid rising Turkish threat
  • Yogi on EU Parliament members call for firing of border agency director for preventing illegal migrants from entering Europe
  • Hoi Polloi on Why so many Muslims can’t wait for Biden to get inaugurated
  • Hoi Polloi on EU Parliament members call for firing of border agency director for preventing illegal migrants from entering Europe

Popular Categories

dhimmitude Sharia Jihad in the U.S ISIS / Islamic State / ISIL Iran Free Speech

Robert Spencer FaceBook Page

Robert Spencer Twitter

Robert Spencer twitter

Robert Spencer YouTube Channel

Books by Robert Spencer

Jihad Watch® is a registered trademark of Robert Spencer in the United States and/or other countries - Site Developed and Managed by Free Speech Defense

Content copyright Jihad Watch, Jihad Watch claims no credit for any images posted on this site unless otherwise noted. Images on this blog are copyright to their respective owners. If there is an image appearing on this blog that belongs to you and you do not wish for it appear on this site, please E-mail with a link to said image and it will be promptly removed.

Our mailing address is: David Horowitz Freedom Center, P.O. Box 55089, Sherman Oaks, CA 91499-1964

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.