Anti-Terrorism Information Sharing is Strength Actby Representative Robert Pittenger
Posted on 2016-07-11
PITTENGER. Mr. Speaker, I thank the chairman for yielding, and I
thank the gentleman for the leadership he has shown this past year on
the issue of terrorist group financing. I would also like to pay
recognition and gratitude to Chairman Hensarling for his leadership on
this, and Ranking Member Maxine Waters of California for her
leadership. Particularly, I would like to make note of the ranking
member of our Task Force to Investigate Terrorism Financing, the
gentleman from Massachusetts (Mr. Lynch), and thank the gentleman for
his great efforts and work.
Our task force bills on the floor today are the result of a bipartisan, year-long series of hearings that focused on ways to improve and tailor our laws to better address the evolving threats posed by terrorist groups within our financial sector.
My bill, the Anti-Terrorism Information Sharing Is Strength Act, cosponsored with Ms. Maxine Waters of California, helps clarify our current illicit financial laws with Mr. Lynch and provides much-needed technical corrections to ensure that our current laws work as originally intended by Congress. We must work to ensure that private financial institutions are not penalized for working with the Federal Government to combat terrorism financing.
Mr. Speaker, some Members of this body have been spreading some misinformation about our efforts, specifically regarding section 314 of the PATRIOT Act. Section 314 plays a vital role in enabling our law enforcement the ability to share information and intelligence about terrorist financiers with private financial institutions in an effort to put an end to illicit financing. Terrorist organizations, much like criminal enterprises, are becoming more sophisticated in terms of the methods they use to evade American and international laws to combat money laundering and illicit financing.
As the U.S. Government considers initiatives to counter ISIS and other terror organizations, we must include financial components to ensure that these groups do not receive the funding necessary to conduct operations and to further promote fear, extremism, and violence.