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Testimonies by Chip Poncy

November 2017

Legislative Proposals to Counter Terrorism and Illicit Finance

We are confronting a pivotal moment in our 48 years of combatting illicit finance under the Bank Secrecy Act (“BSA”). As our counter-illicit financing efforts have expanded and become ever more important, they are also increasingly challenged – provoking fundamental questions of effectiveness, cost, roles and responsibilities, and, ultimately, sustainability. The combination of these developments necessitates fundamental reform of the BSA and the expanded anti-money laundering / countering the financing of terrorism (“AML/CFT”) regime it supports.

April 2017

Countering Russia: Further Assessing Options for Sanctions

This is the Committee’s second hearing in the past several weeks on assessing next steps and further options for U.S. sanctions on Russia. I commend your attention to this issue of growing urgency to our national security and to the collective security of the international order that the United States has led since the founding of the United Nations over 70 years ago.

June 2015

Evaluating the Security of the U.S. Financial Sector

From the time of 9/11 through the present, the United States has led this global CFT campaign with unprecedented tenacity and commitment.  This commitment has been vindicated by the substantial disruptive and preventive impact of our CFT efforts against our most pressing terrorist threats.