News Releases

Reintroduces bipartisan legislation to shut down terrorist financiers

WASHINGTON – U.S. Senator Johnny Isakson, R-Ga., reintroduced bipartisan legislation this week that would give the president additional leverage to penalize foreign governments that fail to shut down terrorist financiers and facilitators.

The Stop Terrorists Operational Resources and Money Act of 2017 would authorize the president to designate a country that is not doing enough to stop terrorism financing as a “Jurisdiction of Terrorism Financing Concern.” This designation triggers either a series of penalties or requirement unless the country enters into an agreement with the U.S. government to improve the country’s ability to end terrorist financing. 

“Cutting off financial resources from terrorist groups is essential to our efforts to degrade and defeat them,” said Isakson, a member of the Senate Committee on Foreign Relations. “This bill will enable the United States and our partners to crack down on those involved in financing the Islamic State and other terrorist groups, effectively adding another tool to our fight against terrorism.”

Under current law, the U.S. has limited leverage to penalize a foreign government for allowing terrorist financiers to operate under its jurisdiction. The Stop Terrorists Operational Resources and Money Act of 2017 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 the Islamic State in Iraq and the Levant, or ISIL, and requires the State Department to report to Congress and the American people on countries’ effectiveness at stopping terrorist financiers.

Isakson joined a bipartisan group of U.S. senators in reintroducing the legislation, including U.S. Sens. Bob Casey, D-Penn., Elizabeth Warren, D-Mass., and Marco Rubio, R-Fla. Isakson previously introduced the legislation in the 114th Congress.

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