Bush Administration seeks more funds to fight “terror financing”
The Bush administration is asking the US Congress for a 12.7 percent funding increase for the Treasury Department's Financial Crimes Enforcement Network (FinCEN), which has been at the forefront of US efforts to stop the flow of money to terrorist organizations, stated a press release.
The US Treasury said that FinCEN plans to use the additional funds to pay for technology upgrades and new personnel to help combat money laundering and other financial crimes. If approved by Congress, FinCEN will have $64.5 million budget in fiscal year 2005, up from its current spending limit of $57.2 million. — (menareport.com)
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