FROM THE OFFICE OF PUBLIC AFFAIRS

Coral Gables, FL - Juan C. Zarate, the Treasury Department's Deputy Assistant Secretary for the Executive Office of Terrorist Financing and Financial Crimes, was a key speaker today on the "Security and Terrorism" panel at the PODER Business Forum 2004.

The Forum, entitled "An Agenda for the Americas," brought together Latin America's political, intellectual and business figures to examine the issues of poverty, inequality and democratic accountability, as well as national security and the threat of terrorism.

Zarate's expertise in counter-terrorist financing and his insights into the financial webs used by terrorists and their financiers was especially valuable to the panel.

"It has become clear that tracking, attacking and deterring their sources of money are essential components of the overall war against terrorists and their sympathizers who seek to harm the U.S. and our international partners," said Zarate.

In addition, Zarate's extensive knowledge of U.S. policy in Central America, coupled with his Latin American heritage, added a unique perspective to the panel.

"The volatile mix of terrorism, drug trafficking, and money laundering is an ongoing threat that faces Latin America. Terrorists know no limits to the ways they raise and move money throughout the world," said Zarate.

Background: Zarate is responsible for formulating and coordinating the Department's counter-terrorist financing and anti-money laundering efforts. In this capacity, he is responsible for policy guidance and oversight of the Financial Crimes Enforcement Network (FinCEN), the Office of Foreign Assets Control (OFAC) and policy guidance for the IRS-Criminal Investigation Division. Zarate is responsible for ensuring that Treasury assets and powers are used to disrupt terrorist financing, money laundering and financial crimes, as well as to apply U.S. sanction programs and administer the Bank Secrecy Act effectively.

-30-