Subcommittee on Emerging Threats and Cap

Stopping the Money Flow Subcommittee on Emerging Threats and Cap

Time and time again, we are reminded of the massive damage that terrorists cause even with just a little money. Today, terrorist groups have more money than some small countries. ISIS is the richest terrorist organization in world history, bringing in over $1 billion in 2014 alone. Drawing on these funds, ISIS has managed to stage terrorist attacks throughout the world and kill thousands of people. ISIS is not alone. Terrorists raise billions annually to carry out their bloody agendas. This is precisely why U. S. Government agencies have been tasked with stemming the flow of money to terrorist groups. When we can separate the terrorists from their money, lives can be saved. According to the Treasury Department, the underlying vulnerabilities within the U. S. financial system today "remain largely the same as those identified in 2005." Terrorists are still able to park and move cash through financial systems.