http://www.defensenews.com/story.php?F=1944751&C=americaU.S. Assessing Impact of Terror Money Trail Leak
The disclosure of a secret U.S. program to monitor bank transfers will logically hurt efforts to track terrorism finance, although it is too soon to know the actual impact, a senior U.S. official said on July 11.
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Stuart Levey, Treasury undersecretary for terrorism and financial intelligence, said the program’s exposure was "a grave loss" to efforts to fight al-Qaida and other militants, but acknowledged the effect was not yet apparent because of a time lag in obtaining the classified information.
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"Many in Congress who should have been briefed by this administration were not," said Rep. Sue Kelly, a New York Republican who chairs the subcommittee on oversight and investigations which conducted the hearing.
She said she asked the Government Accountability Office, the investigative arm of Congress, on July 11 to look into the program to "ensure that it was indeed conducted in accordance with all proper laws, that it does possess all necessary safeguards and that Congress was appropriately informed."