Alumnus, Ken Lawson, discusses Department of Treasury's role in combating terrorist financing
According to Ken Lawson, Assistant Secretary of Enforcement with the Department of the Treasury, prevention is the best strategy for combating terrorist financing, both domestically and internationally. "Our view is that money that makes it into the hands of terrorists is money that kills. If we make it difficult for them to move money around the world, or to raise money, then we are saving lives," he said to a large law school audience on November 8. "We've made some important steps in the right direction, but this will be a marathon not a sprint-we won't stop until every last dollar is rendered useless to those who would seek to destroy us or our friends and allies abroad."
Fighting terrorism internationally is difficult, said Lawson, because Al Qaida cells of operation are believed to be present in as many as sixty countries worldwide. "You're often looking at different legal regimes for many of these countries," he said. "They haven't enacted anti-terrorist financing, money laundering or asset forfeiture legislation." Lawson said that in some cases where countries do not have laws set up to block financial activities, there are United Nations sanctions that have been established that give them that authority. Also, the Department of the Treasury has sent out teams of lawyers, accountants, and other specialists to aid countries in drafting new laws.
Lawson continued, saying that on September 23, President Bush issued an executive order declaring a national emergency regarding acts of terrorism and threats of terrorism committed by foreign terrorists against the United States. This executive order has provided the Department of Treasury broad powers to block the transactions of those named under the order. "Since September 24, the Treasury Department's Office of Foreign Assets Control has blocked the assets of 210 entities and individuals and $34 million has been frozen here in the U.S."
Countries around the globe have been helpful in the Treasury Department's fight, Lawson said. One hundred sixty-six countries have taken action to block terrorists' assets he told his audience. "Our preventative measures involve close communications and financial coordination with our allies in targeting terrorist activities. Secretary [Paul] O'Neill and I have traveled significantly, developing personal relationships with our counterparts abroad, so that the fight against terrorism is successful."
Lawson is a 1991 graduate of the College of Law. He was sworn in as Assistant Secretary for Enforcement in the Department of the Treasury in 2002.