Congressman Lynch seeks another round on Terrorism Financing Task Force

Peter Urban GateHouse Media Washington Bureau

WASHINGTON – U.S. Rep. Stephen Lynch wants to continue to serve on a House task force that has been investigating terrorism financing.

“Following the recent horrific terror attacks on our soil and abroad, it is vital to continue the work,” said Lynch, who is the lead Democrat on the task force. Rep. Mike Fitzpatrick, R-Pa., chairs it.

Lynch said the task force has worked closely with the Financial Crimes Enforcement Network, the U.S. Treasury’s lead agencies in the fight against money laundering. In its first six months, the task force has shed light on various revenue streams that the Islamic State terrorists have used to fund their operations, as well as how the United States can counter them including: continued targeting of ISIL oil infrastructure, helping regional allies secure their borders, and better policing of the travel of foreign fighters

Building on that early work, Lynch said the task force should now take a closer look at trade-based money laundering, terror funding streams from Latin America, and developing the capabilities of regional partners to combat terror financing.

“By working closely with FinCEN and other financial intelligence agencies, the task force can identify ways to evolve our capabilities to monitor and disrupt the flow of funding to terrorist organizations around the world,” he said.

Fitzpatrick also sees a strong need for the task force to continue.

“As we’ve seen in recent days and weeks, the threats posed by terrorist organizations like ISIS – as well as lone actors – is real and evolving. It is my goal to advance upon the findings from our previous work to discover additional ways Congress may better assist our intelligence, law enforcement, and defense communities to cut off funding streams to terror groups seeking chaos and destruction,” Fitzpatrick said.

The House Financial Services Committee voted unanimously on Tuesday to reauthorize the task force. The resolution now goes to the full House for its consideration.