Criminal and terrorist networks are exploiting today’s innovative technologies for their own gain, posing a direct threat to U.S. security and global stability. Illicit terrorist financing, including through bitcoin and other cryptocurrencies, are now being used to fund terrorist groups and circumvent U.S. sanctions. ISIS and rogue nation-states like North Korea, and regional powers like Iran and Russia, sanctioned for their role in conflicts, may also look to illicit financing in order to exploit the international financial system.
The National Security Strategy for 2018 says the United States will “use sophisticated investigative tools to disrupt the ability of criminals to use online marketplaces, cryptocurrencies, and other tools for illicit activities.” On April 17, Congressman Steve Pearce (R-NM) and Congressman Jim Himes (D-CT) will discuss the growing threat of illicit exploitation of online terrorist financial networks and steps the U.S. should take to improve security and reduce global conflict. Both members serve on the House Financial Services Subcommittee on Terrorism and Illicit Finance, where Congressman Pearce serves as chairman.
Join USIP on April 17 as the Institute’s second Bipartisan Congressional Dialogue examines this problem either in person or on Twitter with the hashtag #BipartisanUSIP.