mr. fitzpatrick: arkansas for one minute. mr. hill: i am honored to be apart of the task force, and the thanks to the leadership for the national profit number one. how they interact with foreign terrorist organizations and driven by the ideology. when you combine them you have toxic soup. squary examples as note this had morning of the relationship of criminal activity and terrorist organizations and interact throughout the world. i am looking forward to the morning with the fine panel of witnesses to learning more about that and finding out how we can interject that process and stop it. i appreciate it. i yield back. thank you. mr. fitzpatrick: the chair will recognize the woman from arizona. for one minute. ms. sinema: terrorist networks have developed new ways for deadly operations and to threaten america. and terrorists leverage criminal network to keep the country safe to be a step ahead of them cutting funding off and stopping their efforts. the islamic state is one of the most well financed terrorist groups. in 2014 they

mr. pittenger, for one minute. >> thank you, chairman hensarling, in establishing this task force and to ranking member waters and chairman fitzpatrick for your leadership and mr. lynch. i would like to thank the witnesses for joining us today. this will be a very important and very meaningful hearing. understanding the link between terrorism and crime is a vital step towards understanding what efforts we can to deter the financing. the drug lords and for what benefits, how are they working with transnational criminals, to move money through the financial system. how are they utilizing the same smuggling routes today that have been used for years in past? and what means have they been previously not been utilized like cyber warfare should we be preparing for today? and the bigger question -- what are we going to do to stop it? knowing that we have ended the threat finance cell there are strong concerns that we don't have the capabilities and intelligence necessary to be effective in our goals. i also have concerns about the current effectiveness of intergovernmental cooperation to undermine the flow of money to terrorists. i look for

mr. barrett, can you turn your microphone on, please. >> i'm so sorry, thanks. thank you, chairman fitzpatrick, ranking member lynch, distinguished members of the house financial services committee. it is an honor to testify before you today on this issue of perennial concern. although terrorism along with other forms of violent crime lacks a profit motive, any terrorist attack costs money. it's reasonable to assume that for the less money that the terrorist group has available, the less able it will be to mount an attack. if it does so, limited finances should result in limited impact. but terrorism of course by its nature is asymmetric and asymmetric in all aspects including financially. even a relatively cheap attack can have a devastating impact. for example, the last al qaeda attack in a western country occurred in my country. on july 2005, four individuals associated with al qaeda blew themselves up on the public transport system in london, killing 52 people. the official inquiry into the attack estimated that it would cost less than 8,000 pounds. that's about $13,000 or so. to quote fro