Iran TerrorismTreasury official calls Iran 'central banker of terrorism'

Treasury official calls Iran ‘central banker of terrorism’

-

FOX: A senior Treasury Department official called Iran “the central banker of terrorism” in testimony Tuesday before the Senate Finance Committee, but said the United States is succeeding in chasing money tied to the Al Qaeda terror group. FOX News

WASHINGTON — A senior Treasury Department official called Iran “the central banker of terrorism” in testimony Tuesday before the Senate Finance Committee, but said the United States is succeeding in chasing money tied to the Al Qaeda terror group.

Outlining some of what Iran is known to be doing to support anti-American and anti-Israeli fighters, Treasury Under Secretary for Terrorism and Financial Intelligence Stuart Levey said Iran “uses its global financial ties and its state-owned banks to pursue its nuclear and ballistic missile programs, and to fund terrorism.”

He also told lawmakers that Iran uses front companies and “cut-outs” to “engage in ostensibly innocent transactions that are actually related to its nuclear missile programs.”

“We’ve seen Iran’s banks request other financial institutions take their names off of transactions when processing them in the international financial system. This practice, which is even used by the central bank of Iran, is intended to evade the controls put in place by responsible financial institutions and has the effect of threatening to involve those financial institutions in transactions that they would never engage in if they knew who or what was really involved,” Levey said.

Levey runs the Office of Foreign Assets Control, which is responsible for tracking money being filtered into State Department-designated terror groups, for purposes of weapons proliferation and for the narcotics trade. In March, Treasury froze assets of Future Bank B.S.C., for allegedly being controlled by Iran’s Bank Melli, which was previously designated by the Treasury Department for facilitating Iran’s proliferation activities.

In all, since June 2005, OFAC has identified 51 entities and 12 individuals as proliferators of weapons of mass destruction, of whom 36 entities and 11 individuals were tied to Iran, nine entities and one individual were tied to North Korea and three entities were tied to Syria.

In February, OFAC froze assets of individuals said to be funneling weapons, money and terrorists through Syria to Al Qaeda in Iraq.

Levey told lawmakers that efforts to cut off money to Al Qaeda has shown success — especially in the last 18 months — and cited senior Al Qaeda leaders’ complaints that they have suicide bombers ready to go, but no money to finance operations.

“Al Qaeda’s expression of concern about its financial difficulties is not limited to this one comment,” Levey said. “This concern has recently been echoed elsewhere in Al Qaeda’s upper ranks.

“This, in part, is the impact of being forced out of the formal financial system. Al Qaeda has had no choice but to turn to less reliable methods of raising, storing, and moving money, giving rise to opportunities for fraud and distrust within its ranks.”

FOX News’ Catherine Herridge contributed to this report.

Latest news

Iran Is on the Brink of a Revolution

The wall of fear has been broken. In many cities across Iran, women are taking to the streets, leading...

Iran’s Regime Claims To Fill Global Energy Gap Despite Crippled Petroleum Sector

In recent weeks, the Iranian regime’s officials have been constantly exaggerating their huge capacity in oil and gas reserves...

What Is Happening in Iran?

Following the brutal killing of Masha Amini, the Iranian people have once again united to fight and defeat the...

Iran Regime’s Ministry of Culture’s Decision To Eliminate Children’s Intellectual Centers

With the so-called ‘Cultural Revolution’ which took place between 1980 and 1983, the Iranian regime tried to purge the...

Water Shortage Crisis and the Destruction of Iran’s Water Resources

Iran is currently suffering from a number of dangerous natural disasters. One of the most worrying is the drying...

Economic Freedom Under the Rule of the Mullahs in Iran

The Fraser institute published its annual report of the index of economic freedom on September 8, which measured the...

Must read

Iran’s web spying aided by Western technology

Wall Street Journal: The Iranian regime has developed, with...

Iran warns sanctions talk may halt nuclear cooperation

Reuters: Iran on Friday accused Western nations seeking harsher...

You might also likeRELATED
Recommended to you