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| Terror Networks & Islam |
| Al-Qaeda using cash couriers to evade international scrutiny |
| 2005-03-24 |
| Terror networks like Al Qaeda are increasingly resorting to "cash couriers" in an effort to evade new international banking system controls, a top US Treasury official said yesterday. Mr Stuart Levey, Treasury Undersecretary for Terrorism and Financial Intelligence, praised recent measures that may help drive terror groups to "riskier, more cumbersome" ways of moving cash around. Mr Levey was speaking to reporters here, where he was meeting officials from the Organisation for Economic Cooperation and Development. Osama bin Laden's terror group is adopting the new tactics as governments have joined forces to make the international banking system "more transparent — and more difficult to move money through", Mr Levey said. He also credited a recommendation in October by the OECD's Financial Action Task Force requiring international travellers to report large amounts they carry across borders. The FATF decision reflected a growing concern that existing controls, often designed to impede flows of drug money, were out of date and ill-suited to the battle against terrorism. |
| Posted by:Dan Darling |
| #4 Small, unmarked bills you say? |
| Posted by: Benon Sevan 2005-03-24 12:55:29 PM |
| #3 Not to mention that cash courriers tend to vanish. Even in Al Quaida. Specailly when things aren't going well. |
| Posted by: JFM 2005-03-24 12:42:18 PM |
| #2 Pop! I see a real money-making opportunity! |
| Posted by: Kojo 2005-03-24 9:49:39 AM |
| #1 Using cash couriers is highly inefficient, and it radically reduces your OPSEC. If you cannot even get a single legitimate company or organization to launder your cash, you are hurting. |
| Posted by: Anonymoose 2005-03-24 9:33:36 AM |