[Congressional Record (Bound Edition), Volume 162 (2016), Part 9]
[Senate]
[Pages 12856-12857]
[From the U.S. Government Publishing Office, www.gpo.gov]




           STOP TERRORIST OPERATIONAL RESOURCES AND MONEY ACT

  Mr. CASEY. Mr. President, I rise today to discuss the issue of 
terrorism financing, especially with regard to the terrorist group 
ISIS, known by some as ISIL, or other terminology referring to ISIS 
itself.
  Just days ago, we marked the 15th anniversary since the terrorist 
attack on our country on September 11, 2001. At the time, the United 
States had a fundamentally different understanding of terrorist groups, 
their ideologies, and their operations.
  In the years since, our national security apparatus has grown and 
adapted, responding to evolving threats and prioritizing the fight 
against terrorism and violent extremism.
  For example, prior to 9/11, the Department of the Treasury was not as 
significant in our fight against terrorism as it is today. An act of 
Congress established the Treasury Office of Terrorism and Financial 
Intelligence in 2004. Since then, this office has grown into an 
essential component of our counterterrorism work. They are charged with 
the task of cutting off the financial resources that terrorist groups 
need to survive.
  The terrorist group ISIS presents challenges, a whole new set of 
challenges. Similar to Hezbollah, ISIS is part terrorist group, part 
army, and part criminal syndicate fueled by a hateful ideology and 
controlling communities in Syria and Iraq. We know that ISIS has sacked 
banks and still profits from the illicit sale of oil, antiquities, and 
other items through the black market while extorting the civilians 
under their control. ISIS uses this funding to conduct terror attacks 
and control territory in both Syria and Iraq. They use it to buy more 
weapons, ammunition, and components for improvised explosive devices 
known as IEDs. They use it to pay salaries for fighters and develop 
propaganda materials to spread their hateful ideology.
  In August of 2014, I joined with Senator Rubio, urging the 
administration to prioritize stopping ISIS's financial support. Soon 
after, the President announced his comprehensive strategy to degrade 
and defeat ISIS.
  Already, we have seen that the United States and coalition efforts, 
including airstrikes on oil trucks and cash storage sites, have had a 
meaningful impact on ISIS's finances. For example, in recent months, 
ISIS has had to reduce the salaries they pay their fighters. Our 
airstrikes have also taken key ISIS leaders, including their finance 
minister, off the battlefield.
  Just yesterday, Deputy Secretary of State Tony Blinken reported 
significant progress on rolling back ISIS's control of territory. In 
April, Maj. Gen. Peter Gersten, Deputy Commander of the Combined Joint 
Task Force, Operation Inherent Resolve, said: ``ISIS's ability to 
finance their war through oil refineries has been destroyed.'' That is 
what it says right here. Their ``ability to finance their war through 
oil refineries has been destroyed.'' This is a very significant step, 
since ISIS was heavily reliant on this source of income.
  The President also recently signed into law my bill, the Protect and 
Preserve International Cultural Property Act, which helped ensure that 
the United States is not a market for antiquities looted from Syria. 
This is important because a report by the CultureUnderThreat Task Force 
stated that ISIS may try to increase--increase--its antiquities 
trafficking activity as other revenue streams, such as oil sales, are 
cut off.
  ISIS is rewriting the rule book on how terrorist groups work. Despite 
the loss of territory in both Syria and Iraq, it continues to cultivate 
its affiliates in northern and western Africa, Central Asia, and other 
parts of the Middle East. It continues to sow the seeds of terror in 
neighboring countries such as Turkey, Saudi Arabia, further afield in 
Europe, Africa, and, of course, here in the United States. ISIS has 
figured out how to operate outside of the international financial 
system, lessening the impact of our banking sanctions that we have 
relied upon before. We may be able to defeat ISIS, but the problem of 
terrorist financing will stay with us.
  I took a trip in February to Israel, Qatar, Saudi Arabia, and Turkey, 
which confirmed this assessment. That is why I believe we need a more 
robust, permanent, international architecture for countering terrorist 
financial networks.
  In June, I introduced the Stop Terrorist Operational Resources and 
Money Act--the so-called STORM Act--with Senator Johnny Isakson, and 
this is but a first step. This bill provides a strong set of tools to 
compel greater cooperation from partner nations.
  The STORM Act authorizes a new designation by the President called 
``Jurisdiction of Terrorism Financing Concern,'' which can be triggered 
either by a lack of political will by a country or a lack of capacity 
to take on this problem. Some countries have the capacity to make 
meaningful progress but lack the political will to do so. I believe we 
should levy tough penalties that make countries reconsider their 
willful ignorance or tacit acceptance of terrorist financiers carrying 
their country's passports or operating in their territory. The 
penalties under the STORM Act include suspension of security or 
development assistance, blocking of arms sales, and blocking loans from 
the IMF or the World Bank.
  With some countries the challenge is a basic lack of capacity. The 
United States is well equipped to provide technical assistance and 
capacity building. We have done this before on the issue of nuclear 
nonproliferation. The STORM Act authorizes the administration to do the 
same with countering terrorism financing.
  Lastly, the STORM Act authorizes sanctions against financial 
institutions that do business with ISIS. This sends a signal that banks 
need to be vigilant in ensuring that they do not facilitate ISIS's 
financial operations.
  In the years since 9/11, terrorist groups have become ever more 
sophisticated in the way they finance their operations. We have to 
respond in kind,

[[Page 12857]]

and it is right to expect all our partners to do the same.
  The bipartisan STORM Act sends a very clear message. If you fail to 
pull your weight when it comes to terrorism financing and cutting it 
off, there will be consequences. If you want to improve your record, 
the United States is here to help you.
  I urge my colleagues to support the STORM Act as an element of our 
fight against ISIS and a step toward building a more robust, 
international architecture to stop terrorism financing in the long run.
  I yield the floor.
  Mr. President, I suggest the absence of a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The senior assistant legislative clerk proceeded to call the roll.
  Mr. CARPER. Mr. President, I ask unanimous consent that the order for 
the quorum call be rescinded.
  The PRESIDING OFFICER (Mr. Cassidy). Without objection, it is so 
ordered.

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