Banks Supports the Blocking Iranian Illicit Finance Act
Congressman Jim Banks (IN-03), a member of the House Armed Services Committee, today announced that he is cosponsoring the Blocking Iranian Illicit Finance Act. The legislation seeks to counter the Iranian regime’s money laundering and financing of terrorism, protect the global financial system from Iranian illicit finance and impose maximum financial pressure on Iran.
“Congress should step up to the plate and condemn Iran for its support for terrorism throughout the world,” Banks said. “Limiting Iran’s access to the SWIFT network will finally initiate the change the we need to see in the Middle East.”
The legislation was introduced by Senator Ted Cruz (R-Texas) and Rep. Mike Gallagher (R-Wisc.). Banks is one of six House cosponsors of the bill.