I 111th CONGRESS 1st Session H. R. 3387 IN THE HOUSE OF REPRESENTATIVES July 29, 2009 Mr. Castle (for himself and Mr. Lynch) introduced the following bill; which was referred to the Committee on Financial Services, and in addition to the Select Committee on Intelligence (Permanent Select), for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned A BILL To reiterate that the Secretary of the Treasury is required to submit a report on terrorism financing in accordance with the Intelligence Reform and Terrorism Prevention Act of 2004.

1.

Short title

This Act may be cited as the Post-9/11 Terrorist Financing Review Act.

2.

Findings

Congress finds the following: (1)Terrorist groups require financing for activities such as recruiting, training, and equipping operatives; planning operations; bribing corrupt officials; traveling; and securing false documents. (2)Following the terrorist attacks upon the United States on September 11, 2001, the Federal Government heightened its focus on combating terrorist financing by freezing assets of terrorist financiers and support networks, prosecuting individuals and entities for providing material support, and training and coordinating with foreign governments. (3)More than seven years after such terrorist attacks, media reports indicate that terrorist organizations are evolving by becoming more decentralized, relying on less sophisticated means to move money and avoid official banking systems, using new technology to transfer money electronically, utilizing front organizations to circumvent sanctions, and using complex money laundering schemes to cover up terrorist financing activities. (4)Multiple departments and agencies of the Federal Government have jurisdiction over terrorist financing, including the Department of the Treasury, the Department of Justice, the Department of Homeland Security, the Department of State, the Department of Defense, the Federal Bureau of Investigation, and the Central Intelligence Agency. (5)Section 6303(a) of the Intelligence Reform and Terrorism Prevention Act of 2004 (Public Law 108–458; 118 Stat. 375) required the President to submit to Congress a report evaluating and making recommendations on the current state of the efforts of the United States to curtail the international financing of terrorism and coordinate the intelligence and agency operations within the Federal Government. Such section further required the President to submit such report not later than 270 days after the date of enactment of that Act. As of July 2009, the report required by such section had yet to be submitted to Congress.

3.

Reiteration of requirement to submit report on terrorism financing

Not later than 180 days after the date of the enactment of this Act, the President, acting through the Secretary of the Treasury, shall submit to Congress the report required to be submitted under section 6303(a) of the Intelligence Reform and Terrorism Prevention Act of 2004 (Public Law 108–458; 118 Stat. 3750).