home > by publication type > task force reports > Terrorist Financing
Email
| Chair: | Maurice R. Greenberg, Chairman & CEO, C.V. Starr & Co., Inc. |
|---|---|
| Directors: | William F. Wechsler Lee S. Wolosky |
| Publisher: | Council on Foreign Relations Press |
|---|
Release Date: October 2002
55 pages
ISBN 0876093241
$15.00
Task Force Report No. 40
After an initially robust attempt to curtail financing for international terrorism, the Bush administration’s current efforts are strategically inadequate to assure the sustained results needed to protect U.S. security. This is the core finding of a bipartisan commission chaired by Maurice R. Greenberg, chairman and chief executive officer of AIG, and directed by two former National Security Council officials who are experts in the field, William F. Wechsler and Lee S. Wolosky.
The Task Force report describes the complex nature of the financial network sustaining al-Qaeda and the obstacles to dismantling it, and it acknowledges that the only realistic goal is to curb rather than completely cut off terrorist funding. It finds that U.S. efforts to curtail terrorist financing are impeded not only by a lack of institutional capacity abroad, but, critically, by a lack of political will among U.S. allies. The Task Force notes, for example, “For years, individuals and charities based in Saudi Arabia have been the most important source of funds for al-Qaeda. And for years, Saudi officials have turned a blind eye to this problem.”
Confronted with this lack of political will, the Task Force report finds that the Bush administration appears to have made a policy decision not to use the full power of U.S. influence and laws now on the books to pressure other governments to more effectively combat terrorist financing. It urges the Bush administration to reconsider the recently announced “second phase” of its policy to curb terrorist financing, which will rely more on foreign leadership and less on blocking orders—which this report calls “among the most powerful tools the U.S. possesses in the war on terrorist finances.”
To regain momentum and give this issue the priority it requires, the administration should take two key structural steps: designate a special assistant to the president with the specific mandate and prestige to compel the various diplomatic, law enforcement, intelligence, regulatory, and policy agencies to work together to assure a sustained and effective U.S. response; and drive other countries—whose efforts are woefully inadequate—to greater effectiveness and cooperation. To accomplish this, the United States should lead an initiative to create a new international organization dedicated solely to curbing terrorist financing.
THOMAS J. BIERSTEKER, Henry R. Luce professor and director, Watson Institute, Brown University.
DAVID COHEN, deputy commissioner for intelligence, New York City Police Department; former deputy director for operations, Central Intelligence Agency.
W. BOWMAN CUTTER, managing director, Warburg Pincus; former deputy assistant to the president for economic affairs.
STUART E. EIZENSTAT, partner, Covington and Burling; former deputy secretary of the Treasury.
MICHAEL R. FENZEL, chairman, Council for Emerging National Security Affairs; former director for transnational threats, National Security Council.
RICK SMALL, director for global anti-money laundering, Citigroup; former deputy associate director, board of governors of the Federal Reserve System.
MAURICE SONNENBERG, senior international adviser, Bear, Stearns and Co.; senior international adviser, Manatt Phelps and Phillips, LLP; former vice chairman, National Commission on Terrorism.
JOAN E. SPERO, president, Doris Duke Charitable Foundation; former undersecretary of state for economic affairs.
TODD D. STERN, partner, Wilmer, Cutler and Pickering; former counselor to the secretary of the Treasury and staff secretary, the White House.
WILLIAM H. WEBSTER, senior partner, Milbank, Tweed, Hadley and McCloy; former director, Federal Bureau of Investigations and director, Central Intelligence Agency.
WILLIAM F. WECHSLER, vice president, Greenwich Associates; former director for transnational threats, National Security Council and special adviser to the secretary of the Treasury. Former chair of the interagency group charged with disrupting al Qaeda’s financial network.
JONATHAN WINER, counsel, Alston and Bird; former deputy assistant secretary of state for international law enforcement affairs.
LEE S. WOLOSKY, head of the International Corporate Practice Group, Boies, Schiller and Flexner LLP; adjunct fellow, Center for Strategic and International Studies; former director for transnational threats, National Security Council.
To order Task Force reports, Council Special Reports, and Critical Policy Choices, please call, fax, or order online from our distributor, the Brookings Institution Press: phone +1.800.537.5487, fax +1.410.516.6998.
For information on other reports that are not for sale, or for general publications information, please call +1.212.434.9516 or email publications@cfr.org.
Start-Up Nation addresses the trillion-dollar question: How is it that Israel—a country of 7.1 million, only sixty years old, surrounded by enemies— produces more start-up companies than large, peaceful, and stable nations like Japan, China, India, Korea, Canada, and the UK? With the insights of geopolitical experts and investors, the authors examine this nation’s adversity-driven culture to answer this question and offer prescriptions for a global economy on the rebound.
In Forces of Fortune, Vali Nasr presents a paradigm-changing revelation that will transform the understanding of the Muslim world at large. He reveals that there is a vital but unseen rising force in the Islamic world—a new business-minded middle class—that is building a vibrant new Muslim world economy and that holds the key to winning the cold war against Iran and extremists.
In Cuba: What Everyone Needs to Know, Julia E. Sweig presents a remarkably accessible portrait of Cuba's unique place on the world stage over the past fifty years, including its internal politics, its often fraught relationship with the United States, and its shifting relationship with the global community.
Complete list of CFR Books
The report of this bipartisan Task Force of distinguished leaders and experts represents a strong consensus on the importance of repairing America's immigration policy. It makes the case that maintaining America's political and economic leadership depends on attracting talented and hard-working immigrants, and on securing the country's borders in a smart, effective, and humane way.
This report finds that nuclear weapons will remain a fundamental element of U.S. national security in the near term, and makes recommendations on how to ensure the safety, security, and reliability of the U.S. deterrent nuclear force, prevent nuclear terrorism, and strengthen the nuclear nonproliferation regime.
About Independent Task Forces at CFR
Complete list of Task Force reports
Identifying international threats and acting on them may be the most difficult job for U.S. policymakers. This report
provides an actionable road map for managing international threats before they erupt into crises and makes a strong case that preventive action is not a luxury but a necessity.
For more than a decade, the United States has mostly watched from the sidelines as Asian countries organize themselves into an alphabet soup of new multilateral groups. In this report, the authors review the relationship between pan-Asian and trans-Pacific institutions and suggest policy guidelines for a new U.S. approach to this new Asian landscape.
Complete list of Council Special Reports
To request permission to reprint or reuse CFR material, please fill out this permissions request form (PDF), referring to the instructions on page 1.
Copyright 2009 by the Council on Foreign Relations. All Rights Reserved.