San Antonio Corridor News

Bills targeting the financing of terrorism have been introduced by Congresswoman Monica De La Cruz (TX-15) in an effort to strengthen national security and combat the rise of terrorist groups. On Tuesday, December 5th, Congresswoman De La Cruz presented two crucial bills aimed at preventing the financing of terrorism through the drug trade and promoting counter-terrorism accountability within international financial institutions.

The first bill, known as the Prevent the Financing of Terrorism Through the Drug Trade Act, calls for the Secretary of the Treasury to submit a comprehensive report to Congress within 180 days. This report will outline the sources and scope of terrorist financing conducted by Hamas and Hezbollah in Mexico, Central America, South America, and the Caribbean. Additionally, the bill proposes the inclusion of Hamas as a primary threat on the Treasury's National Terrorist Financing Risk Assessment report. This inclusion will provide vital data to further understand and combat the activities of this notorious terrorist group.

Congresswoman De La Cruz emphasized the importance of this bill in light of the recent increase in terrorist activities by Hamas and Hezbollah following the October 7th terrorist attacks in Israel. She stated, "It is necessary to understand the sources and scope of their activities in Mexico, Central America, South America, and the Caribbean to best protect our National security and Southern Border."

The second bill, titled the International Financial Institution Counter Terrorism Accountability Act, focuses on ensuring accountability within international financial institutions, such as the World Bank and IMF. Under this bill, the Secretary of the Treasury will be required to submit a report to Congress within 180 days. This report will include a list of countries supported by the World Bank and IMF, details of the programs and activities provided by these institutions to combat terrorist financing, the amount of funding allocated to these programs, and an evaluation of their effectiveness.

Congresswoman De La Cruz explained the rationale behind this bill, highlighting the need for international banking organizations to critically analyze their anti-money laundering and anti-terrorism financial programs. She emphasized the importance of effective utilization of American tax dollars to hinder money laundering and terrorism activities in the global market. She stated, "My legislation requires a report to Congress evaluating the effectiveness of these programs and activities. After the submission of this report, Treasury is tasked with developing recommendations for the World Bank and IMF to improve their counter terrorist financing and anti-money laundering programs."

In her concluding remarks, Congresswoman De La Cruz underscored the ongoing battle against terrorism, emphasizing that it does not end with the destruction of one terrorist network or the conclusion of a war. She stated, "The fight against terrorism doesn't end... That is why I introduced these bills that target the financing of terror with the goal of stopping terrorism in its tracks."

With the introduction of these bills, Congresswoman Monica De La Cruz aims to strengthen national security, protect innocent lives, and ensure that the global fight against terrorism remains steadfast and resilient.

Click this link to access more information: https://delacruz.house.gov/news/documentsingle.aspx?DocumentID=497