Treasury Secretary Paulson Delivers Speech on Targeted Financial Measures to Protect National Security
In a speech today made at the Council on Foreign Relations in New York, U.S. Treasury Secretary Henry Paulson outlined the U.S. effort to cut off weapons proliferators, terrorists and money launderers from the global financial system. He also called on U.S. allies need to enact legislative and regulatory changes that would enable better targeting of financial sanctions in the fight against global threats and facilitate coordination of actions with related multilateral efforts. Specifically, he stated that:
Nations must implement the laws necessary to give their finance ministries the authority to access and use intelligence, and they must move to integrate financial and security functions. This will enable further cooperation and multilateral action, which is in the world's best interest. And, these authorities must be available for use against terrorist financing, money laundering and the dangerous, emerging practice of proliferation financing.The text of Secretary Paulsen's speech and a related fact sheet can be found here and here.