Is not that individual in Brooklyn engaged in banking activities under the laws of New York?
MR. WOLOSKY: Well, until recently the problem has been that there has been no Federal regulation of that activity. Post 9/11, using preexisting legal authorities, the Department of the Treasury has begun to require that activity, individuals who engage in that activity to register. MR. GORTON: I see. MR. WOLOSKY: Because the activity fundamentally is intended to be anonymous, without record keeping, without paper trails. The likelihood that the individuals will register is quite remote. But notwithstanding that fact, it provides a basis for prosecution in Federal court if they fail to register. Prior to 9/11 frequently there was no basis for prosecution in Federal court. Now if they fail to register, they can be prosecuted. MR. GORTON: Is that effectively our method of stopping some portion of that $500 from going, not to the parent in Islamabad, but to terrorism? MR. WOLOSKY: Yes. I think a basic point which you alluded to is that this system of moving money is used for mainly legitim
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