Chairman Royce on the hearing: “With the leadership of this committee, Congress has used sanctions to marshal America’s economic might against threats to our national security. Last August, we enacted tough new sanctions on three regimes – North Korea, Russia and Iran – that continue to undermine global stability. The House has also passed sanctions to crack down on Hezbollah’s use of drug trafficking and other criminal activities to fund its terror. With this hearing, the committee will review the implementation and enforcement of these efforts by agencies including the Departments of Treasury, State, Commerce, and Justice.”

Opening Statements

Full text of Chairman Ed Royce’s opening statement

Witnesses

The Honorable Juan C. Zarate
Chairman and Co-Founder
Financial Integrity Network
(Former Assistant Secretary for Terrorist Financing and Financial Crimes, U.S. Department of the Treasury)
[full text of statement]
[truth in testimony form]

Mr. Derek Maltz
Executive Director
Governmental Relations
Pen-Link, Ltd.
(Former Special Agent in Charge, Special Operations Division, Drug Enforcement Administration, U.S. Department of Justice)
[full text of statement]
[truth in testimony form]

Mr. Adam Szubin
Distinguished Practitioner-in-Residence
Johns Hopkins University School of Advanced International Studies
(Former Acting Under Secretary for Terrorism and Financial Intelligence, U.S. Department of the Treasury)
[full text of statement]
[truth in testimony form]

____________________________

Hearing transcript (PDF)