House Unanimously Passes Bill Targeting Finances for Terrorist Organization

AIPAC Press Release
House Unanimously Passes Bill Targeting Finances for Terrorist Organization

May 15, 2015

AIPAC commends the House of Representatives for adopting critical legislation to cut off those who assist the terrorist group Hezbollah from the U.S. banking system. The Hezbollah International Financing Prevention Act of 2015 (H.R. 2297) was introduced by House Foreign Affairs Committee Chairman Ed Royce (R-CA) and Ranking Member Eliot Engel (D-NY), along with Reps. Mark Meadows (R-NC), Ted Deutch (D-FL) and Lee Zeldin (R-NY). 

A key provision of the bill would impose strict conditions on any foreign financial institution that facilitates significant transactions with or for Hezbollah. The measure would sanction foreign financial institutions that knowingly facilitate the activities of Hezbollah, including those that provide significant financial services or money laundering for the terrorist organization.

Hezbollah, an Iranian-backed terrorist group, poses a direct threat to American and Israeli security, dominates the Lebanese government, fights for the Syrian Assad regime, and possesses an arsenal of more than 100,000 rockets. Hezbollah has killed more Americans than any terrorist group other than al-Qaeda, and continues to instigate terrorist attacks worldwide.

AIPAC urges the Senate to adopt this important legislation.