**Congressman Geoff Davis**

**1108 Longworth House Office Building**

**Washington, D.C. 20515**

**[www.geoffdavis.house.gov](http://www.geoffdavis.house.gov/)**

**For Immediate Release:** **Media Contact:**

July 25, 2007 Amanda Keating

\(202\) 225-3465 -- office

\(202\) 593-1635 -- cell

**Davis Introduces Legislation to Combat Terrorist Financing**

*Legislation would close loopholes in current law to fight terrorism one
dollar at a time*

Washington, D.C. --

Today, Congressman Geoff Davis joined Republican Leader John Boehner,
Republican Whip Roy Blunt, Judiciary Committee Ranking Member Lamar
Smith and fourteen Republican House Members to introduce a comprehensive
package of crime bills that will help fight terrorism and violent crime
in Kentucky and across the nation.

Davis' legislation, the Combating Terrorism Financing Act of 2007 (H.R.
3146), will help close loopholes in the current law to more effectively
combat terrorist finance activities. One of the most effective tools in
the war on terror is the ability to eliminate financial resources for
terrorists. In 2003, the Treasury Department, working in conjunction
with international banks and monetary organizations, was able to capture
Riduan bin Isamuddin, the al Qaeda affiliate responsible for the 2002
bombing in Bali which killed more than 200 people. We need to continue
to equip our law enforcement officers with the tools that they need to
continue similar investigations that will deter both terrorists and
future attacks.

Congressman Davis stated, "I am proud to introduce this bill that
provides law enforcement with additional tools to cut off funding to
terrorists around the world. Terrorism is the most credible and
persistent threat to our nation. However, there has not been a single
attack on American soil since 9/11; thanks in large part to vigilance by
our law enforcement and intelligence communities as well as ordinary
citizens. We need to continue our proactive efforts to strengthen our
laws so that we can fight terrorism both at home and abroad. This bill,
and the broader package, will continue that effort. I would like to
thank Republican Leader Boehner, Republican Whip Blunt, Ranking Member
Smith and my colleagues for their efforts in keeping up the fight
against terrorism and violent crime."

Republican Leader John Boehner \[R-OH\] said, "Fighting terrorism,
particularly in the financial services industry, can be a complex task
complicated by numerous regulatory and jurisdictional issues.
Congressman Davis' legislation will help equip our law enforcement
officials with the tools that they need to combat terrorist financing.
Congressman Davis should be applauded for his vigilance and ongoing
efforts to keep our country safe from those wishing to do us harm."

House Judiciary Committee Ranking Member Lamar Smith \[R-TX\] said, "I
would like to thank Congressman Davis for introducing this important
legislation that will strengthen our nation's laws and help combat
terrorist financing. This bill gives law enforcement officials the tools
they need to effectively prevent terrorism and protect the American
people."

Congressman Davis' legislation, the Combating Terrorism Financing Act of
2007, will:

1)  Amend current law to prohibit domestic "reverse" money laundering
    which is the transportation of large quantities of cash for the
    intended promotion of terrorism or other crimes;

2)  Prohibit money laundering through informal value transfer systems,
    such as hawalas and the Black Market Peso Exchange, using money from
    an unlawful activity whether it is part of single transaction or an
    arranged series of transactions;

3)  Allow law enforcement officials to temporarily freeze the bank
    accounts of those arrested in the U.S. in connection with moving
    funds in or out of the U.S.;

4)  Deem that checks without a dollar amount, a tactic used increasingly
    in money laundering to circumvent U.S. Customs reporting
    requirements, will have a value equal to the value of the funds in
    the bank account on which the check is drawn;

5)  Make it illegal to transport more than \$10,000 in criminal proceeds
    by courier across State lines if the currency was either known to
    have been derived from an unlawful activity, such as drug trade, or
    knowing that the currency will be intended to promote an unlawful
    activity; and

6)  Permit the adding together of separate transactions, provided that
    the transactions are closely related in terms of time, the
    identities of the parties involved, and the manner conducted, to
    reach the \$10,000 threshold thus making it illegal to be
    transported across State lines by courier.

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