FROM THE OFFICE OF PUBLIC AFFAIRS

May 27, 2004
JS-1697

Statement of Deputy Assistant Secretary for Terrorist Financing and
Financial Crimes Juan Zarate

- Juan Zarate, the Treasury Department's Deputy Assistant Secretary for Terrorist Financing and Financial Crimes, made the following statement yesterday upon the conclusion of meetings with Swiss officials engaged in the global effort to halt terrorist financing:

"Today's meetings with our Swiss counterparts allowed us to further delve into the important work underway and the challenges we face in the financial war on terror. In discussions with key Swiss officials, we reaffirmed the efforts that have reaped important successes and bolstered our collective commitment to adapt our attack to the changing face of terror. These ongoing efforts remind us that we are truly engaged in a global campaign to cut the financial ties to terrorist activity.

"We have maintained a strong working relationship with our Swiss counterparts and commend their efforts on a number of fronts, including the finding and freezing of Iraqi assets. It was with great pleasure that we received word that last week Switzerland established a critical measure putting the wheels in motion to repatriate frozen Iraqi assets to the Development Fund for Iraq (DFI).

"We have asked our Swiss counterparts, and continue to urge our partners around the globe, to remain focused on choking off dollars that fuel terrorist agendas. Though our worldwide efforts have made it harder and more costly for al Qaida and other like-minded terror groups to raise and move money, we cannot be satisfied.

"The United States remains steadfast in working methodically with our Swiss partners and those around the world committed to preventing and ending acts of terror."