Terrorist financing is the raising and processing of funds to support terrorism. 

It is closely related to money laundering: Both are crimes that obscure financial assets for criminal purposes. An important distinction: 

Money laundering makes "dirty money" legitimate: Criminals use the financial system to hide the source of funds from illegal activities.
 
Terrorist financing involves legitimate and illegitimate funds: It directs "clean money" to supporting terrorism and cleans "dirty money" from terrorists' criminal activity so it can be used to support their mission.
Meet the Expert

About Dennis

  • Internationally recognized expert on Terrorist Financing with client banks ranging from small (Regions Bank, Ally Bank) to multi-national (J.P. Morgan Chase, Bank of America, Goldman Sachs, Merrill Lynch)
  • As the FBI's Chief of Terrorist Financing Operations Section, conceived of and directed the initiative that identified the funding of the 9/11 attacks
  • Provides topical insights to Congressional committees and to media outlets including: The Wall Street Journal, CNBC, and CBS
  • Expertise in delivering investigative intelligence, risk advisory consultations, litigation support services, compliance risk and assessment, and educational seminars and training

Experience

President • DML Associates, LLC
Jun, 2010 — Present
  • Consulting services and training related to terrorist financing, money laundering, fraud, financial crimes, and due diligence
  • Provides litigation support to numerous law firms and serves as expert witness and consultant
  • Clients include: J.P. Morgan Chase, Bank of America, Ally Bank, Regions Bank, Nomura Securities, and First Bank
  • Strategic partners include: Booze Allen Hamilton, Chartwell Compliance, Deloitte, and Mesirow Financial
  • Software partners: include World Compliance, SAS, Bankers Toolbox and Fiserv
  • Recognized expert providing testimony to U.S. Congressional Subcommittees and appearing in media: The Wall Street Journal, CBS, CNBC and Fox News
Managing Director • IPSA International
2008 — 2010
  • Managing Director, Northeast Region, for consultancy delivering fraud, anti-money laundering and terrorist financing services
  • Delivered AML Lookback services for: Citibank, Merrill Lynch, J.P. Morgan Chase and Giuliani Security and Safety
  • Represented IPSA within the industry, through speaking engagements and training programs
Senior Vice President • Corporate Risk International
2004 — 2008
  • Instituted AML practice
  • Designed AML programs and conducted customer due diligence investigations for clients to comply with the U.S. Patriot Act and Bank Secrecy Act 
  • Clients included: Goldman Sachs, Credit Suisse, Merrill Lynch, and Giuliani Security and Safety
Chief • Federal Bureau of Investigation
Jan, 1976 — Dec, 2003
  • Chief, Terrorist Financing Operations Section, Counterterrorism Division
  • Following the terrorist attacks of September 2001, formulated, established and directed the FBI’s comprehensive terrorist financing initiative that identified the funding stream that supported the attacks
  • Developed and implemented a variety of proactive and progressive investigative methodologies, evolving into the formation of a formal Section within the Counterterrorism Division of the FBI, known as The Terrorist Financing Operations Section
  • Prior positions span from Supervisory Special Agent to Chief/Financial Crimes Section/Criminal investigative Division, all directed toward financial crimes with increasingly levels of scope, authority, and management
  • Other notable investigations include ABSCAM, Bank of Credit and Commerce International (BCCI), and fugitive financier Robert Vesco
Agent • Internal Revenue Service
1973 — 1976
  • Conducted tax audits to assist in criminal invstigations of money laundering and unreported income as part of the Organized Crime Strike Force

Awards

  • CIA George H. W. Bush Award for Excellence in Counterterrorism
  • DOJ, Criminal Division, Assistant Attorney General Award for Investigative Initiative

Committees

  • Testimony before the House Committee on Homeland Security, Subcommittee on Counterterrorism and Intelligence, "Terrorist Financing Since 9/11: Assessing an Evolving al Qaeda and State Sponsors of Terrorism" (5/18/2012)
  • Advisor to the Congressional Anti-Terrorist Financing Task Force, chaired by former U.S. Representative Sue Kelly (founded 2004).
  • Authored testimony on terrorist financing by senior FBI officials in 2003.
  • Chair of the ACAMS DC Capital Chapter Board

Keynote Speeches

Hundreds of industry speeches, including recently:

  • Money Laundering.com Annual AML Conference, March 2013
  • "Can You Think Like a Fraudster?", World Compliance webinar, January 2013
  • ACAMS Annual International Money Laundering Conference 2012
  • ABA Regulatory Compliance Conference 2012

Publications

  • Contributor to CounterterrorismBlog.org
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