Live at 9 00 p. M. Eastern on cspan, cspan now, or online at cspan. Org. Be sure to scan the qr code to listen to our companion podcast. Next, a hearing on combating financing for terrorists from a senate banking, housing and urban affairs committee. Witnesses talk about financial ties between iran and hamas. And the role of cryptocurrency in fundraising for terrorist groups. The senate banking, housing and urban affairs committee, remarks witnesses talk about financial ties between iran and hamas and the role of crypto currency in fundraising for terrorist. Welcome our perhaps permanent now ranking member. This month the world watched in horror support israel as a different country and aid civilians and gaza and its file provide assistance including robust military economic humanitarian aid desperately needed for those harmed by hamas terrorism. We must stand with both ukraine and israel as i fight back against two of the worlds biggest threats, putin and iranian back terrace like, this is a time to play politics, must stand united with allies and defend america. We need to confirm keep National Security memories who play a critical working with israeli partners, too many delays already. Right now politics. Several key positions, a master to israel, 12 key military personnel directly impact that part of the load preventing work in the middle east. Clinical grandstanding especially as we have seen in the house from americas ability to protect our interests at home and abroad. We have a long history of keeping polities down the aftermath of october 7, when confronting a challenge in the civil rights well, humanity compels us to combat terrorism and sponsors of terrorism like a man accountable. We must be clear, one voice, no justification for terrorism. We have a unique role to play in understand financing behind them also talked to we can work to cut off funding and it source and rittenhouse a history of supporting atrocities. The get funding for the military, they provide capabilities. We will assess what he cannot tools we need to stop terrorism including rent from supporting hamas, Islamic Jihad multiple terrace funding fees. Gaza and elsewhere including sudan and turkey. Allies to track and freeze steps to deny, terrorist the ability to raise. We need to not only identify factors but unify the pipeline to shut off the funding. The must undertake a robust approach to identify and permit transaction and Financial Institutions for Money Laundering, crypto currency and avoid detection. Keeping money out of the banking system, suspicious transaction reporting keep it anonymous. It becomes a game walkable. Cryptos way president terms Justice Department back in 2020, using crypto currency. And members of the committee and plans for closing gaps for Digital Assets rules. Hes acceptable, i will for more ideas for anybody on the committee and its Nuclear Weapons development will also support for terrace, a steady drumbeat recognizing the need for the United States and allies to maintain and bring sanctions on iran is harmful destabilizing activities in the senate voted overwhelmingly to support countering america adversary sanctions act. Sanctions on russia, iran or any other or Government Support hezbollah. Dont to tighten the rules around companies right here the u. S. For terrace alike. We strengthen Money Laundering rules and sanctions in a bipartisan way and we will do it again. We need this approach to shut off funding sources, not just 6 billion but many more billions of Iran Destabilizing activities around the world. Now is the time to act, i look forward to working with colleagues in the committee to address the problems to further strengthen. Thank you, mr. Chairman. On behalf of ranking of the stock in republican politics, who would like to welcome senator beutler as the newest member of this committee. October 7, a date flutter, nearly three weeks terrace have to do is to attack our allies and friends. Make no mistake about this was an act of pure evil. I returned a trip from saudi arabia, israel and egypt this past weekend i traveled with the Bipartisan Group of colleagues to send a message loud and clear to the world. The United States america stands with israel we saw firsthand was truly unimaginable. These are very terrace cameras as they commit atrocities so you can watch as babies were decapitated from children shot to death in front of her peers or parents slaughtered in front of the children, young women rate, entire families burned to death. Daughters and sons, sisters and brothers kidnapped and taken into gaza as hostages and human shields. Over 1400 innocent people were murdered in israel that they more than 200 taken hostage. The state Department Reports at least ten americans remain positive and amused 33 u. S. Citizens were killed october 7. As we picture, we know commit these acts of evil. Organizations like hamas and hezbollah as well as military training and weapon. Funds but since they were recklessly willing to leave them in the first place, i urge my colleagues here today to support ranking members to evoke the funding act which was my original cosponsor would take care of it and the actions last week the sanction hamas operatives and financial facilitators. How long has the administration known about these financers of terror yet failed to act the executive branch largely has tools needed for sanction states like this a straighter needs to use the tools in the toolbox and enforcement. We need to return maximum pressure conference of sanctions but squeeze karen financially dry. I want to address this issue here at home in a literal sense. On College Campuses in cities across the country including this week at the Nations Capital city even in the halls of congress. Even glorifying i never saw United States of america and this time we would struggle to call evil evil. It should not be celebrated by any americans, they are not only contrary to the core values of our nation but to every fiber in our being following the holocaust so jewish people would never have to hide again. But as americans pledge never again. Since october 7 that promise has been under attack in israel and here at home under our watch never again. I will wrap up by saying families whose loved ones are being held hostage and it was israel a few days ago. Three years old, hamas as a human shield so when you learned her story and the stories of the remaining hostages prepare your pack. This committee has the power to prove america still knows good from evil. I look forward to be solutions and we locked the United States to stand shoulder to shoulder with israel projecting unwavering american support to deter more hospital aggression. Thank you. Despite challenges we all continue bipartisan work in this committee, i want to introduce todays witness, director of the program in counterterrorism and these policies and publications and welcome to Southeast Asia for the Senate Committee on foreign relations, welcome back to the senate. The prohibition of authorities and extensive experience in Digital Assets and terrorism and financing, thank you for this. Bipartisanship welcome for fresh air. If only by measuring the number of victims targeted as we think about how hamas finest, we need to understand a few things, there will be a tendency to figure out right now how this was financed. I think we need to take a step back, this was financed over decades. Hamas has been able to raise funds multiple themes over a long period of time, that is the underlying issue to take it back. Hamas is financing over the decades. Generally a continual uptick in funding even when hamas and evan broke over hamas refusal to back the regime in syria, funding completely stopped. The cut back funding for Political Activities but the funding for military activities could not stop at all and pretty soon after. Hamas took over the gaza strip when they did, they created a problem they saw extremes of the Islamic State. What happens when the control territory . Youre able extort and racketeer, control orders customs. So until recently the single largest source of income probably at least two or three times as much they get from rent and the government says at least 70 to 100 billion a year probably between 390 and 450 million able to raise. Israelis succeed watching hamas from their military Infrastructure Project gaza promote the single most significant way to deny funds and remove a teachers salary collect garbage so they will need less money to continue as we saw the Islamic State, we didnt destroy Islamic State but we can be on the in the Islamic State. Hamas raise money over time. Several leaders were convicted on all counts through hamas, theres a bit of time when it was less of an issue now is a bigger issue in the past few weeks we see the union of good in an organization created by hamas to oversee charities designated years ago active again the revival of the outage society. Designated charity titles into al qaeda based on late raising money in the wake of the october shank attack. The conflict that hamas started, we have seen an uptick in funding including the only crypto we should anticipate that will be the case. Crypto is an important way of raising funds crowdfunding, it would be even more important in terms of how they move in a second and hamas and its committee and designations about that a moment ago and politicians overseeing these funds. I may actually need to pay as much attention to how terrorist groups transfer funds as we do to have a raise funds and im happy these questions and answers and we need to Pay Attention not only to funding of the resourcing, 70 to 100 million a year for a rent is cash but there is also weapons, look at the weapons israelis confiscated. Rbg, missing files. How do they move, how do they get that correct and interested not only in cash but the resources. At the end of the day can do even better after and will have better balance in competition not mutually exclusive. Thank you very much members of the committee, i am honored to be here and be with these two witnesses. Let me underscore at the outset the big money, big money in the financial story from rent and specifically from oil spills talk about the Biden Administration transferred and it was advertised as payment but widely understood to be the consideration and understanding tweet the Biden Administration and Iranian Regime over the coming months and understand it to evade in 2015. The Biden Administration has said will not allow committee right now a metallic letter that correct or not. Proceed event, there are steps to take, it is important for congress to ascertain whether the government has agreed to make a rent a whole other withhold billys taqueria. In the scenario, and over cash to rent and then back later in south korea and focus on the bank. If it chooses to become Islamic Republic of iran, the u. S. Government has options under law but lets talk about the really big money. I rent total revenue in 2021 is between 81 and 91 billion. Importantly in 2020 and since 2021, the estimated value Additional Oil sales the difference between revenue would have learned how it remained maximum pressure level, 29 billion. How does that happen . Simple. U. S. Government allowed it to happen. He skyrocketed the last two and half years one thing, enforcement is no secret President Biden hoped to enter jc poa the Treasury Department stopped imposing sanctions on iranian oil spirit who is buying it . There are others i have listed in my testimony. In 2018 Treasure Department eight eight two has a lot more than 7 million. Hamas cost about 109th of our other estimates but its up to 350 million a year. As suggested, but is. To give a sense of happens when everyone has less money, during the height of this Pressure Campaign transfers and it dropped dramatically complaining about the washington post, furloughs necessary and what they were fighting due to outset. It double down on trafficking which helps burn and they do have other sources of income. Senior hamas officials located our risk millions, an estimated 4 billion, an estimated two and a half, a lot of money so i want to turn back because we dont talk enough, what role does it play in the middle east . Positioning itself, a middleman with no favorites, that is the term of garbage. The favor is islamic extremist that promotes this channel, who lives there . Al qaeda, isis leaders, all of them, one of the most important regions. Now is the Moment Congress should be asking questions. What else . Bows the west bank and gaza is enabling their role and expose ruled by hezbollah and anti israel attacks in short most importantly the sanctions enforcement since 2021 permitted around accumulated and train hamas so many others. Specifically, hughes the language in existing legislation to require the sanctions that justify action in the case that it doesnt impose sanctions. Second, the chairman required every waiver of sanctioned 30 days notice and put in place up or down vote for the to approve or disapprove. This big money , so after oil spills and terrorist enablers, fact what fuels the savagery of october 7. Thank you very much distinguished members. I wanted to be here today before getting into professional aspects, i like to share with you a personal story children, eighth and 11th graders the weekend of october 7 getting ready for the festival organized their father in which there were supposed to set up dozens of heights to send a message to their neighbors. Saturday morning eating the pancakes a group of terrorists broke into the house, placed them into the bedroom and slaughtered all of them to get us and their parents bed. Three innocent children, they would just quote my children and they were buried together last week. At the same time, a person 26 grizzled student, a nephew of one of my colleagues was dancing and music festival. That morning, they attacked while escaping kidnapped and they were taking her. She was kept oxygen gaza. One of 1400 people brutally slaughtered, burned alive, beheaded while at the home for the music festival. Part of the 200 people, 37 nationalities including women, children were held hostage hamas in gaza. These stories seem to be directly from their playbook. It actually appeared in court. I want to take the opportunity and that of the conversations over campuses in the u. S. And Harvard University and those people are not freedom fighters. Those are crucial carriers and is it taking actions as well this is the full package of sanctions over hamas and al qaeda and. We all know terrorist organizations cannot funding brief the activities cost a lot of money and they are. There are 11. I was able to focus on this discussion of my testimony today researching and writing leaving the government. The channel we all know, shell companies. The efforts should be global and focus on global sanctions and hamas and sponsors as is the case with ice. Service countries like the u. S. And make sure they are all covered. These economy and my time is about up, additional comments to the section. This is a fight we must win. We must do it by putting off finances. Its not before i begin questions, i would like to introduce the senator from california for first hearing on Housing Banking and urban affairs, roger here. Doctor levitt, given the role money terrorist groups and financing possibilities available to hamas what two questions, what is the most effective . We only apply secondary sanctions to some terrorist organizations. One thing i think we are already seeing, treasury officials going to one thing that is very firm sanctions. Ill give you an example. The most recent designations target finance committee. We have to look at Charity Investments in iran. Im tired of people debating and it wont come out eventually it was a joint operation committee, their term, not mine they been running and just yesterday leaders were meeting, iran has funded, trained and pointed his wrists for decades and we are saying we are surprised hamas is doing Something Like this. Iran is ultimately responsible and gas week consequences. Irans ability to finance tourism has to be dealt with today and the idea of putting event issues in silos prioritizing only the nuclear problem, it is terrorism and activity from the region, we saw the consequences. The round of iran threat network, the smallest and immense proxies is the brink of work from imagine what they do, the time to act is now. The way terrorist groups exploited crypto is simple, they raise money with bitcoin. Walk through how bad actors innovative and as all of you have said, crypto is not the major source of funding for talk as we learn more and more about crypto activities related child trafficking or child terrorism, are they innovating how they use crypto . How does legal and technological tools keep up . Thank you for the question. It can be more actors because of coverage. The status in order to be able to place that. Now we have those standards, we are enforcing those actions. We see the rules and i can elaborate on that but we avoid that. To channels in which they used to and in other ways, it is the organization. However, it is not allowed they may grow in the future. The other package of regulation enforcing many countries proving to be effective modules to investigate. Authorities were able to breeze abo