Ridge Global LLC

September 28, 2007 – The Honorable Tom Ridge spoke at the 3rd annual Compliance Leadership Forum to discuss the current state of terrorism and the important role the financial community plays in the prevention of terrorist financing. 

The exclusive event – held in Leicestershire, UK, and sponsored by World Check / Global Objectives Ltd. – was attended by banking executives, regulators, enforcement agents and attorneys from the compliance, money laundering and risk divisions of some of the world’s leading financial institutions.

“I applaud and commend the banking community,” Secretary Ridge said following the event. “The financial sector has done much to ensure its own business continuity but also to stop payment on the transactions of terrorists, money launderers, cartels and sanctioned entities.”

The Secretary added however, “Not all nations are moving quickly enough to stop illicit money flows. Several of our key allies who condemn terrorism have yet to take even the basic steps to criminalize terrorist financing and money laundering.

“Additionally, governments must implement the laws that will give financial ministries greater authority to utilize the intel they receive so that they can quickly spot and stop the money trail of terrorists and other ill-intentioned individuals and groups.

“We have the opportunity to thwart the economic viability of those seeking funds to do our citizens harm. So we must seize that opportunity, particularly to improve information sharing – government to government and government to private sector.

“We have a shared responsibility for our mutual security. We also have an opportunity to find mutual benefit through security measures. For as we work together to safeguard the global financial system’s integrity, we will enhance economic security and prosperity for lawful and freedom-loving citizens around the world.”