Hearing of the House Financial Services Committee - Terrorist Financing and the Islamic State

Hearing

Thank you, Mr. Chairman, for holding this very important and timely hearing. I would also like to thank our distinguished panelists for joining us today.

Mr. Chairman, it cost the terrorists who targeted and murdered thousands of American citizens on 9/11 approximately $500,000 to plan and execute their coordinated attack. In a single day, ISIL is estimated to bring in more than double that through a number of illicit business practices.

ISIL is a threat to America and the free world. We must dismantle and destroy this terrorist organization before more American lives are put at risk.

From selling oil on the black-market, to taxing and extorting local businesses, to kidnapping for ransom, ISIL is a criminal organization with numerous financial resources that have perpetuated their reign of terror in unstable regions across the Middle East.

I look forward to working with my colleagues on this Committee to ensure the federal government uses every tool at its disposal to prevent ISIL from acquiring the funds to continue their reign of terror.

Source