Saudi Arabian Anti-Terror Financing Controls Praised

Juan Carlos Zarate, the US Department of Treasury Assistant Secretary for Terrorist Financing and Financial Crimes, recently commended the Kingdom of Saudi Arabia for the restrictions it has issued to guard against illegal financial activities especially with respect to the funding of terrorism.

In testimony before Congress he said: In some respects, these restrictions go further than those of any country in the world. Assistant Secretary Zarate also commented on the close co-operation that is continuing between the Kingdom and the United States with regard to the financial war on terrorism. This constructive engagement which has produced real results must and will continue, Zarate told Congress. These remarks complement the finding of the all-party Congressional 9/11 report earlier this year that also dismissed charges against senior Saudi figures that they had been involved in funding terrorism.

The US Dept. of the Treasury is again on the record praising Saudi efforts at controlling the money flow that had been abused to fund terror. There are still those–including some current and former congressmen–who think that the Saudis aren’t doing much on this front. They’re simply wrong. If you have doubts, take a look at this Saudi Gazette article. I’ll try to find the Congressional Record document for an updated link.

Update:

Zarate’s complete testimony before Congress can be found in this Treasury Department press release. The Congressional Record, which may include additional questions and answers, is not yet published.