US Treasury celebrates 10 years of fighting terrorism with finance

Treasury

US Treasury Secretary Jacob J. Lew paid tribute today to the counterterrorism efforts of the Office of Financial Intelligence (TFI), which is marking its 10th Anniversary with the TFI@10 symposium in Washington.

With the costs of military counterterrorism strategies  totalling over a trillion dollars, the TFI aims to tackle threats whilst dramatically reducing both human collateral and financial costs. Over the past decade, these methods have included blocking assets as well as designing and implementing financial sanctions that specifically target terrorist, trafficking and other international crime organisations. It also collaborates with government agencies around the world to create a “vast international coalition” of counterterrorism efforts.

Speaking at the Centre for Strategic and International Studies, Lew praised the TFI’s use of financial interventions to disrupt payment networks that help to fuel international terrorism. “TFI has opened up a new battlefield for the United States, one that enables us to go after those who wish us harm without putting our troops in harm’s way or using lethal force,” he said. “Because of the quiet dedication of these public servants, we are confronting our strategic challenges, we are making progress, and we are a safer and stronger nation.”

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