RealNews

Feds Sharpen Focus on Terrorist Money

The Bush administration will sharpen its focus on alternative means that terrorists may use to raise or move money, such as the trafficking of drugs, gold and diamonds, diverting charitable contributions and exploiting the Internet. Building on current efforts in these areas is one of the goals contained in the administration’s 2003 anti-money laundering strategy, said an annual report released by the Treasury Department late Tuesday. Alternative methods to raise or move money have taken on more importance as the United States and other countries have taken steps to make it harder for terrorist financiers to use traditional banking systems. “As the banking system comes under increasing scrutiny, terrorists may turn as well to other mechanisms to transfer funds,” the report said. “While maintaining our vigilance over traditional means of value transfer, we must also focus on alternative means — trading in commodities such as gold, gems and precious stones and metals,” the report said. Full Story

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