Treasury official calls for global moves against terror

Any strategy intended to disrupt the ability of terrorists to raise funds and finance future attacks must be international in nature, Treasury Undersecretary for Enforcement Jimmy Gurule said Thursday.

Gurule, in an address to the D.C. Bar Association, called the fight against terrorist financing "a complex problem that will involve years of careful diplomacy and innovative thinking."

The reasons why the fight is international in nature "are obvious," Gurule said. "First, terrorism is a global problem. Second, money is a fluid commodity that can be wired around the world in seconds. Third, because of the strict federal bank reporting requirements and aggressive forfeiture laws, terrorist funds are not likely to be held in U.S. banks," he said.

Gurule noted that development of an international strategy to deplete terrorist funding poses "enormous challenges" not only because foreign governments have different legal regimes, but also because some countries have not enacted anti-terrorist financing, money laundering, or asset forfeiture laws.

"Our strategy, both domestically and internationally, is designed to be a preventative approach," Gurule continued. "Our challenge is to harness the international interest in the terrorist financing issue into worldwide action. We believe that we have made some important steps in the right direction but I want to point out that this fight will be a marathon and not a sprint. We are just beginning."

One critical component of the United States' long-term effort to dismantle terrorist financing lies in "the development of personal relationships with our counterparts abroad," Gurule said, noting that Treasury Secretary Paul O'Neill has traveled to Europe, Asia and the Middle East in an effort to enlist cooperation there.

"Close relations and regular communication with our global partners is critical to our success in combating terrorism now and in the future," Gurule added.

Gurule delivered these remarks as U.S. and Chinese officials remained in the midst of meetings this week at the Treasury Department to exchange views on how to prevent and combat terrorist financing. The meeting is the first of other semi-annual meetings planned to deal with the issue, at which the United States and China will alternate as hosts.

On a related note, Senate Banking International Trade and Finance Subcommittee Chairman Evan Bayh, D-Ind., announced Friday he will hold a hearing Tuesday on the role of foreign and U.S.-based Islamic charities and non- governmental organizations in the financing of terrorist activities.

Stay up-to-date with federal news alerts and analysis — Sign up for GovExec's email newsletters.
Close [ x ] More from GovExec

Thank you for subscribing to newsletters from
We think these reports might interest you:

  • Sponsored by Brocade

    Best of 2016 Federal Forum eBook

    Earlier this summer, Federal and tech industry leaders convened to talk security, machine learning, network modernization, DevOps, and much more at the 2016 Federal Forum. This eBook includes a useful summary highlighting the best content shared at the 2016 Federal Forum to help agencies modernize their network infrastructure.

  • Sponsored by CDW-G

    GBC Flash Poll Series: Merger & Acquisitions

    Download this GBC Flash Poll to learn more about federal perspectives on the impact of industry consolidation.

  • Sponsored by One Identity

    One Nation Under Guard: Securing User Identities Across State and Local Government

    In 2016, the government can expect even more sophisticated threats on the horizon, making it all the more imperative that agencies enforce proper identity and access management (IAM) practices. In order to better measure the current state of IAM at the state and local level, Government Business Council (GBC) conducted an in-depth research study of state and local employees.

  • Sponsored by Aquilent

    The Next Federal Evolution of Cloud

    This GBC report explains the evolution of cloud computing in federal government, and provides an outlook for the future of the cloud in government IT.

  • Sponsored by Aquilent

    A DevOps Roadmap for the Federal Government

    This GBC Report discusses how DevOps is steadily gaining traction among some of government's leading IT developers and agencies.

  • Sponsored by LTC Partners, administrators of the Federal Long Term Care Insurance Program

    Approaching the Brink of Federal Retirement

    Approximately 10,000 baby boomers are reaching retirement age per day, and a growing number of federal employees are preparing themselves for the next chapter of their lives. Learn how to tackle the challenges that today's workforce faces in laying the groundwork for a smooth and secure retirement.

  • Sponsored by Hewlett Packard Enterprise

    Cyber Defense 101: Arming the Next Generation of Government Employees

    Read this issue brief to learn about the sector's most potent challenges in the new cyber landscape and how government organizations are building a robust, threat-aware infrastructure

  • Sponsored by Aquilent

    GBC Issue Brief: Cultivating Digital Services in the Federal Landscape

    Read this GBC issue brief to learn more about the current state of digital services in the government, and how key players are pushing enhancements towards a user-centric approach.

  • Sponsored by CDW-G

    Joint Enterprise Licensing Agreements

    Read this eBook to learn how defense agencies can achieve savings and efficiencies with an Enterprise Software Agreement.

  • Sponsored by Cloudera

    Government Forum Content Library

    Get all the essential resources needed for effective technology strategies in the federal landscape.


When you download a report, your information may be shared with the underwriters of that document.