WASHINGTON – Senator Maggie Hassan (D-NH) cosponsored a bipartisan bill that would provide the President additional leverage in penalizing foreign governments that fail to shut down terrorist financiers and facilitators.
The Stop Terrorists Operational Resources and Money (STORM) Act of 2017, introduced by Senators Bob Casey (D-PA), Johnny Isakson (R-GA), Elizabeth Warren (D-MA) and Marco Rubio (R-FL), would authorize the President to designate a country that is not adequately combating terrorism financing as a “Jurisdiction of Terrorism Financing Concern.” This designation triggers a range of penalties or requires that the country enter into a capacity building agreement with the U.S. Government to improve their ability to end terrorist financing.
“It is imperative that we use every tool at our disposal to go after terrorist organizations and eliminate their funding sources in order to keep the United States safe, secure, and free,” said Senator Hassan, a member of the Homeland Security and Governmental Affairs Committee. “We know that some foreign governments are not effective in rooting out terrorists and financiers of terrorism who operate in their jurisdictions. This bipartisan legislation will add a critical tool for the President to improve foreign governments’ cooperation with the United States in combating terrorist threats across the globe and defeating terrorist organizations like ISIS.”
Under current law, the U.S. has limited leverage to penalize a foreign government for allowing terrorist financiers to operate using its jurisdiction. The STORM Act will strengthen the President’s tools to ensure all foreign partners are investigating and prosecuting terrorist financiers in the most effective way possible. It also authorizes sanctions on foreign banks that do business with ISIS and requires the State Department to report to Congress and the American people on countries’ effectiveness at stopping terrorist financiers.