Paper Trail Stops Dead at Hawala

CNN ^ | Oct. 11, 2001 | Nick Easen

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"Currency can be as lethal as a bullet," U.S. Treasury Secretary Paul O'Neill told the House of Representatives Financial Services Committee.

Illegal in most countries, including Pakistan, an honor-bound remittance system based on trust, family and friends is a low-tech, informal form of wire transfer.

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"Hawala May Defeat Efforts to Choke Terrorist Funds posted on 10/1/01 by FReeper machman.

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Black market money changing has been going on for millenia. I find it remarkable that only now, law enforcement and military agencies are reevaluating its role in covert money laundering for terrorist activity. Can you say "duh"?

[John Locke]

As the banking world faces new laws, heightened security and further scrutiny, it is likely that hawala will play an increasing role in the transfer of terrorist money.

"When money is outlawed, only outlaws will have money." Does this surprise anyone?

[Fulbright]

One of the things which is bubbling out, and is going to eventually break out, is the fact that many upper class types in the Mideast knew that something was going to happen on or about September 11.

People are going to be shocked and disgusted when this stuff comes out. It raises many questions about our security.