As Americans and the international community continue to face terrorist threats and acts, the interruption of terrorist financing is increasingly important to the protection of innocent civilians. In addition to seeking compensation for terror victims, anti-terrorism litigation is a powerful tool used to disrupt terrorists' international fundraising networks.
Terrorist organizations depend on a continuous stream of financial resources to fund their recruitment, training, operations and infrastructure. These critical funds, typically millions of valuable American dollars, come from individuals, banks, charities and other institutions worldwide.
Despite criminal prosecutions and diplomatic efforts, our international financial system has shown itself vulnerable to fraudulent and deceptive practices such as money laundering that allow terrorist groups to maintain a constant cash flow. Current international finance regulations, policies and security measures have been unable to establish the transparency and controls needed to cut off the movement of terrorist funds.
Money laundering is frequently used to illegally conceal the illicit source of funds used for the operation of terrorist organizations and to carry out deadly attacks. Although the United States and other countries require financial institutions to participate in compliance programs that monitor money laundering, international regulations have not been strong enough to expose and halt the movement of funds to terrorist groups. In addition, terrorist financing may involve financial resources from legitimate sources.
Several nations provide known terrorist organizations with financial resources, training and weapons. The U.S. Department of State has identified Cuba, Iran, Sudan and Syria as state sponsors of terrorism for their support, funding and other tangible contributions to terrorist operations.
Through our investigative and legal efforts with anti-terrorism litigation, Motley Rice attorneys have uncovered details on terrorist financing, money laundering and other financial crimes within the intricate regulatory environment of international banking and finance. We work to hold individuals, organizations and institutions accountable for their actions that knowingly contribute to terrorist activities. For more information, contact attorney Jodi W. Flowers by email or call +1 800.768.4026.