After last week’s terrorist attack in England that claimed 22 lives, Iowa Senator Chuck Grassley is introducing legislation which he says is designed to modernize and strengthen criminal laws regulating money laundering.
He says that’s how terrorist groups pay for their violent efforts. “I introduced a bill called the Combating Money Laundering, Terrorist Financing and Counterfeiting Act,” Grassley says. “It’s a long name for a bill that’s pretty simple. Its simple purpose is to hit terrorists and criminals in their pocketbook.”
Grassley, a Republican, says terrorists are exploiting the global financial system and they’re crossing international borders to evade law enforcement.
“Money laundering is a common practice used by terrorist organizations, also by drug cartels and maybe criminals generally,” Grassley says. “Often, their ill-gotten gains are used to finance and support violent attacks.” The suicide bombing at a pop concert in Manchester, England, last week is another example, Grassley says, of how terrorists are eager to wage violence on innocent people, regardless of their age, ethnicity or religion.
The bipartisan legislation, he says, is much needed.”The bill would modernize our money laundering and counterfeiting laws and enhance law enforcement tools to crack down on these groups,” Grassley says. “It’s another way we’re attempting to turn the screws on terrorism.” Terrorist groups like ISIS wouldn’t be able to pay for their activities without illegal funds, he says, and blocking those funds is an effective way to disrupt the organizations and prevent crime and more killings.