The act provides powers to the bank to prevent money laundering and terrorism financing.

It is responsible for gathering intelligence on and regulating money laundering, terrorism financing and major financial crimes.

Supports efforts to curb terrorism financing and to encourage other nations to do the same.

As a U.S. attorney, he has prosecuted cases of terrorism financing and campaign finance.

Often linked in legislation and regulation, terrorism financing and money laundering are conceptual opposites.

He said he knew nothing about any prosecution claims that the sheik might have been involved in terrorism financing.

In the 2000s, the issue of terrorism financing and recruiting for terrorist groups, including Islamic groups, have also been on the agenda.

US officials have said it is a centre for terrorism financing, a claim denied by the three South American nations.

Prosecutors have long said that hawala networks are a prime target of investigations into global terrorism financing.

The two groups reportedly have ties to terrorism financing.