Posted on 05/18/2005 1:54:12 PM PDT by phoenix_004
Osama bin Laden's militant al Qaeda network is facing financial problems because of difficulties collecting, transferring and storing funds, a top U.S. Treasury official said on Wednesday. "We have indications that terrorist groups like al Qaeda and (Palestinian militants) Hamas are feeling the pressure and are hurting for money," Treasury Undersecretary Stuart Levey told the California and Florida Bankers Associations.
"While I am limited in what I can say about it, I can tell you that the information we have been receiving lately is encouraging. We have seen intelligence suggesting that terrorists are having trouble raising, moving and storing money," he said in a speech.
Levey said U.S. efforts to shut down corrupt charities and hold people who fund terrorism personally accountable had deterred previously willing donors from sending money to militants.
Hamas recently told Reuters it had been hit hard by a drop in revenue following a Saudi crackdown on the abuse of charities and other avenues of terrorism financing.
Levey said, "We are also seeing terrorist groups avoiding formal financing channels, and instead resorting to riskier and more cumbersome financial conduits like bulk cash smuggling."
The United States has taken a series of steps since the Sept. 11, 2001, attacks -- including freezing funds, requiring banks to report more suspicious transactions and making informal cash brokers register with authorities -- to make it harder for militants to abuse the U.S. financial system.
But some officials and financial experts have expressed concern that the financial flows do not stop, but merely take a different, less visible route. They note that the use of informal channels such as bulk cash smuggling, or unlicensed couriers and remittance bureaus makes it harder for officials to track and disrupt terrorist financing.
(Excerpt) Read more at reuters.com ...
Al Qaida will have to pimp out their goats throughout their ummah!
Sounds like an opportunity for a rock concert: Terror Aid
ROFL
Here's the real truth, from the middle of this piece.....exactly the opposite of the headline:
"We are also seeing terrorist groups avoiding formal financing channels, and instead resorting to riskier and more cumbersome financial conduits like bulk cash smuggling."
Come on. You know Kerry would have accomplished the same, if not better, results.
If you don't believe me, just ask him.
LOL!!! However, quit giving Hollywood liberals any more ideas. I'm sure Springsteen is on the phone now, working out the details.
"Al Qaida will have to pimp out their goats throughout their ummah!"
The left and Hollywood can hold a telethon to raise money for AlQaida.
Ratings for CBS down....Circulation for liberal MSM dailies down....advertising revenue decreases...al Qaeda getting less money....
Anyone see a connection here?
They could always pass the turban at the mosques.
hope they look north into canada..seems like lots of rich muslims here............
"Pass the turban..."
Now that's funny!
This closing paragraph just goes to show that no matter what the news Al-Reuters simply must have the final word. Editorializing with no facts, complete speculation. Of course everyone know they are going to try other avenues when primary ones dry up. Basically Reuters is saying, "that story we just told you? .... we don't buy it, have a nice day."
Or, at the very least, they are saying "we hope it's not true!"
No kidding. They'd be flush with cash then.
I'm sure he had a plan, a secret plan!
Fine by me. "See those strangers over there? They have $25 million cash hidden in their donkey."
"We are also seeing terrorist groups avoiding formal financing channels, and instead resorting to riskier and more cumbersome financial conduits like bulk cash smuggling."
I noticed that too. I guess I should be feeling better about things now that I know that Al Quada can no longer go to the bank for a loan. We have forced terrorists to smuggle cash. Imagine that. Our over $10,000 disclosure rule has them on their knees.
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