U.S.-Swiss Relations: Is the United States fighting terrorist financing operations in Switzerland to the exten of its power?
Green, Kathryn M.
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Switzerland has long been notorious for its acceptance of large, sometimes nefarious banking clients. However, in a world increasingly plagued by multi-millionaire terrorist organizations, that target large numbers of innocent civilians, Switzerland's guaranteed banking secrecy is increasingly called into question. Terrorist financing is one area in which relatively little progress has been made since the September 11 attacks. Terrorist financial networks continue to thrive, funding acts of violence. In the Patriot Act, the United States gave itself increased abilities to follow these financial transactions overseas. Yet it still does not make full use of these new powers. This study examines the funding structure of terrorist organizations. It then assesses the abilities of the United States to neutralize these financial assets. Finally the author assesses whether the United States is utilizing these tools to engage its ally Switzerland in substantially limiting or eliminating terrorist financial action within its borders.