Combating Terrorism Financing Act of 2005

H.R. 3007, the Combating Terrorism Financing Act of 2005, seeks to strengthen the government's ability to disrupt the financial networks of terrorist organizations by increasing penalties for illegal financial transactions and expanding the scope of the Racketeer Influenced and Corrupt Organizations (RICO) Act. The bill would allow federal authorities to seize the assets of individuals or groups involved in planning international terrorism and would classify the misuse of Social Security numbers to obtain funds as a federal racketeering offense. For the average citizen, these changes are designed to enhance national security by providing law enforcement with more robust tools to investigate money laundering and freeze the assets of suspected terrorist entities.