U.S. Efforts against Terrorism Financing: A View from the Private Sector
By Matthew Levitt
On June 15, 2007, Robert Werner addressed The Washington Institute's Policy Forum seminar series. Managing director of Merrill Lynch's Monetary and Financial Control Group since December 2006, he previously served as director of the Treasury Department's Financial Crimes Enforcement Network (FinCEN) and, before that, as director of the department's Office of Foreign Assets Control (OFAC). Mr. Werner is therefore uniquely positioned to comment on the private sector perspective on the kinds of programs he oversaw at OFAC and FinCEN.
It may surprise some that Mr. Werner does not believe that the what is required of the private sector is overly burdensome. He does, however, correctly point out that for the private sector to be a full partner in the effort to combat terror finances the government will have to find ways to share some classified information with the private sector. There is precedent for this, and it can and should be done.
The full summary of Mr. Werner's remarks are available here.