JS-1479: Zarate Discusses the Financial War on Terror During <script type="text/javascript"> var wmNotice = "UNT Web Archive - External links, forms, and search boxes may not function within this collection. Url: http://treas.gov/press/releases/js1479.htm time: 9:18:35 Sep 20, 2008"; var wmHideNotice = "hide"; var contextRoot = "https://webarchive.library.unt.edu/eot2008/"; </script> <script type="text/javascript" src="https://webarchive.library.unt.edu/eot2008/js/disclaim.js"></script> <br>Swiss Banking Panel<BR>Major Financial Hubs, like Switzerland, are Fundamental <BR>to Winning the Battle



	FROM THE OFFICE OF PUBLIC AFFAIRS April 27, 2004 JS-1479 Zarate Discusses the Financial War on Terror During Swiss Banking Panel Major Financial Hubs, like Switzerland, are Fundamental to Winning the Battle NEW YORK – Juan C. Zarate, the Treasury Department’s Deputy Assistant Secretary for the Executive Office for Terrorist Financing and Financial Crimes, spoke Monday on a terror financing panel held by the American Swiss Foundation in collaboration with the Swiss Bankers Association. The panel, entitled Financial Privacy, Economic Freedom and the War on Terrorism, brought together professionals from the banking, financial and business sector, as well as diplomats and scholars, to discuss global efforts to halt terrorist financing and specifically the role Switzerland plays in that charge. “The real terrorist threats of the post-September 11^th world require the international community to tackle terrorist financing in an aggressive manner. The tightening of the international financial net requires the proactive cooperation of not only governments around the world, but also the private sector,” said Zarate. “Armed with critical resources like the USA PATRIOT Act, we are able to balance the principles of financial privacy with our obligation to obtain, analyze and apply financial information to attack the monetary inroads of terror, as well as better understand how terrorist networks fund themselves. “The unrelenting and active participation of the world’s leading financial centers and financial communities, like Switzerland, play a crucial role in countering terror financing. Their cooperation is instrumental in freezing existing assets and prohibiting future funding caches from being funneled through the financial system in support of nefarious acts. “Switzerland is an instrumental partner in the financial war on terror and in the protection of the international financial system. It is crucial that we continue to work together and strengthen our relationship to stave off terrorists that corrupt our financial system in support of their deadly schemes,” Zarate said.