[iwar] [fc:Companies.'are.paying.protection.money'.to.terrorists]

From: Fred Cohen (fc@all.net)
Date: 2001-10-01 21:13:59


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From: Fred Cohen <fc@all.net>
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Date: Mon, 1 Oct 2001 21:13:59 -0700 (PDT)
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Subject: [iwar] [fc:Companies.'are.paying.protection.money'.to.terrorists]
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Companies 'are paying protection money' to terrorists

By Paul Peachey

01 October 2001

Campaigns waged by terrorist organizations are being partly financed
through protection rackets that extort money from respected large
corporations across the world, it was claimed yesterday. 

Oil companies in South America and Middle Eastern airlines are among
those paying to prevent their businesses being damaged, according to the
magazine Forbes Global.  It claimed timber companies in South-east Asia
have also made protection payments and until recently, a Jewish-owned
bank was paying off the Lebanese Islamist group Hizbollah. 

An executive in the financial division of a state-owned oil company in
southern Europe claimed that donating money to Islamic groups was a cost
of doing business in the Middle East.  He said: "I have been more and
more worried about these transactions over the last seven or eight
years, because friends in our government's secret service have told me
that a number of these intermediaries have direct links to terrorist
organizations."

Reports have suggested that the 11 September attacks cost the terrorists
about $500,000 (£340,000), which was in part spent on renting cars,
flights and large cash withdrawals. 

Last week, President George Bush issued the equivalent of a financial
"most-wanted list" of groups and individuals in an attempt to starve
them of funding.  The move was seen as a largely symbolic gesture. 
Money-laundering experts have dismissed as unworkable attempts to
control the terrorists' movements of funds. 

The man accused of being behind the outrages, Osama bin Laden, is
thought to earns hundreds of millions of pounds every year from both
legal and illegal activities.  Al-Qa'ida, the organization that he
helped establish in Afghanistan 12 years ago, employs some 3,000
civilians and maintains 2,000 armed troops.  The group operates
communications equipment, training bases and safe houses around the
world, which are used by extremists from Egypt to the Philippines. 
Frank Cilluffo, of the Washington-based Centre for Strategic and
International Studies, said: "I look at bin Laden as the chief financial
officer of a very loose coalition of radicals.  It's not a monolithic,
hierarchical organization.  But he is the glue that holds these groups
together with money, training and support."

The financing for his network comes partly from his inheritance of up to
£42m and from a cut of the profits from Afghanistan's lucrative heroin
trade.  Further funding comes from charities, stock market investments
and stakes in a variety of businesses in Sudan. 

The magazine found that Mr bin Laden also controls an Islamic bank and
has a majority stake in a plantation.  He is likely to use tools such as
offshore internet banks to help keep his financial activities secret,
experts said. 

Source: Independent - UK

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