Treasury Releases 2007 Terrorist Assets Report
by Amanda Adams*, 10/17/2008
The Department of the Treasury's Office of Foreign Assets Control (OFAC) has recently released the 2007 Terrorist Assets Report to Congress. The report details that $336.2 million of seized assets allegedly related to terrorism is currently being held by Treasury. Of that, $20.7 million originated with foreign terror¬ist organizations, a category that includes charitable organizations. This number is up from $16.4 million detailed in the 2006 report. It also reports that $315.5 million originated with designated state sponsors of terrorism. We do not know how much of the frozen $20.7 million originated as charitable assets. However, OMB Watch along with charitable and nonprofit organizations have called on Treasury to release frozen funds belonging to charities designated as supporters of terrorism "to trustworthy aid agencies that can ensure the funds are used for their intended charitable purposes."
