Washington, DC – Congressman Steve Pearce today led the Terrorism and Illicit Finance Subcommittee hearing entitled "Exploring the Financial Nexus of Terrorism, Drug Trafficking, and Organized Crime." This hearing explored the various ways transnational criminal organizations (TCOs) are financed, as well as the intersection between criminal groups and other illicit activity like terrorism and political corruption.
"Transnational criminal organizations (TCOs) operate on a global scale, crossing international boundaries to further their pursuit of power, influence, and profits. TCO's are able to access global supply chains across the land, sea, air, and cyber domains to move goods, people, services, money, and data. The massive profits also ensure that these criminal groups are powerful enough to influence the political, judicial, and law enforcement branches of more vulnerable countries, providing them the protection to continue their illegal schemes and further expand their influence," stated Rep. Pearce. "Today's hearing was an opportunity to dissect the connection of transnational terrorism, crime, and corruption. I thank everyone for joining the Subcommittee to examine the nexus of terrorism, drug trafficking, and organized crime to better understand how powerful criminal organizations exploit the financial system for their illicit gain."
Click here or on the image below to watch Rep. Pearce's opening statement.