Tags: Many | Countries | Cut | Finance | Ties | Terror

Many Countries Cut Finance Ties to Terror

Tuesday, 25 September 2001 12:00 AM

"On the reaction to the financial controls the president announced yesterday we are seeing an international reaction that is positive," State Department spokesman Richard Boucher told reporters Tuesday.

U.S. officials say they have been informed that Saudi financial authorities have taken action on key accounts in the country's state owned National Commercial Bank and the Faisal Islamic Bank, run by former Saudi intelligence chief Turki al-Faisal. Last week, U.S. officials had asked for action on these accounts in meetings with the Saudi foreign minister.

In the United Arab Emirates, a UAE official told United Press International, the government ministries are investigating accounts in the Dubai Islamic Bank. "We are cooperating security wise, intelligence wise, financial wise in all levels in the international fight against terrorism," he said.

In Europe, the Swiss have formed a task force to crack down on terrorism. "The Swiss federal police have created a task force with over 100 agents to look for financial and other links to bin Laden's network and terrorist organizations," said Manuel Sager, a spokesman for the Swiss Embassy in Washington.

Sager also said the Swiss had on ongoing investigation into the Al Taqwa Management Organization, a trading company with offshore holdings in Malta and the Bahamas, alleged to have links to bin Laden. This weekend, Swiss money laundering authorities gave Al Taqwa 20 days to provide a detailed list of its commercial interests.

In Bulgaria, Sophia's Bureau for Financial Investigation has launched a probe into bank accounts believed to be connected to the al Qaida network, according a senior official at the Bulgarian Embassy in Washington. This official said, "As soon we have proof, we will freeze the accounts."

In Washington, Japanese Prime Minister Junichiro Koizumi announced plans to investigate financial ties in Japan's banking system to the bin Laden organization.

On Monday, the president said he was putting "banks and financial institutions around the world on notice, we will work with their governments, ask them to freeze or block terrorist's ability to access funds in foreign accounts."

Bush's comments marked the opening of a new front in what he has repeatedly called a war against terrorism, declared after Islamic extremists hijacked four airliners on Sept 11 and crashed them, destroying the World Trade Center, damaging the Pentagon and leaving more than 6,000 people dead or missing.

One way the White House has been working to break up bin Laden's financial network is through multilateral organizations. On Sept. 20, European Union heads of state agreed to strengthen existing agreements on money laundering and freezing assets connected with terrorism.

"The Europeans want to extend the scope of legislation on money laundering to secure that proper orders for freezing assets are being dealt with in the European Union," EU spokesman Willy Helin told UPI Tuesday. "All EU countries would do this," he added, noting that the regulations before differed from country to country.

On Tuesday, the finance ministers from the G7 group of industrialized nations passed a resolution to toughen financial regulations against suspected terrorists. The ministers also discussed a possible U.N. resolution that would toughen the penalties to financial institutions that hold terrorist accounts.

Copyright 2001 by United Press International. All rights reserved.

© 2019 Newsmax. All rights reserved.

   
1Like our page
2Share
Pre-2008
On the reaction to the financial controls the president announced yesterday we are seeing an international reaction that is positive, State Department spokesman Richard Boucher told reporters Tuesday. U.S. officials say they have been informed that Saudi financial...
Many,Countries,Cut,Finance,Ties,Terror
531
2001-00-25
Tuesday, 25 September 2001 12:00 AM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved