WASHINGTON (1/25/16)--Terrorism financing and a look at the fiscal year 2017 budget are on the U.S. House Financial Services Committee’s hearing schedule for this week.
Tomorrow, starting at 10 a.m. (ET), the committee’s Task Force to Investigate Terrorism Financing will conduct a hearing titled “Trading with the Enemy: Trade-Based Money Laundering is the Growth Industry in Terror Finance.”
Witnesses at the hearing include former members of the U.S. Treasury and U.S. Customs and Border Protection.
Trade-based money laundering, in which criminals use legitimate trade to disguise criminal proceeds, has been identified as the largest money laundering method when underground financial systems are included.
Also tomorrow, starting at 2 p.m. (ET), the committee will hold a markup of its views and estimates on the fiscal year 2017 budget.
Both the hearing and markup will take place in room 2128 of the Rayburn House Office Building, and will be streamed on the committee’s website.