[In the News]:Financial Campaign Against Terrorism


This is Steve Emberwith the VOA Special English program IN THE NEWS.

The United States is attempting to cut the supply of money forterrorist groups. Congress has approved measures expanding thegovernment's power to halt the flow of money to Osama bin Laden andhis al Qa'eda organization. They are the main suspects in theairline hijackings on September eleventh which caused thousands ofdeaths in New York and Washington.

President Bush has signed executive orders to freeze the Americanassets of sixty-six individuals, businesses and organizations linkedto the suspected terrorists. An order to freeze assets means peopleand groups on the list cannot remove money held by banks in theirname. The government says banks have halted the use of aboutforty-million dollars so far. The order also barred citizens andcompanies from doing business with those on the list.

American officials have asked other governments to join theinternational campaign to halt the flow of money to terrorists.Treasury Secretary Paul O'Neill said that at least sixty-two nationshave already blocked any activity for terrorist bank accounts. Hesaid one-hundred-two others have said they will join the effort.Mister O'Neill told reporters the international effort has stoppedthe use of at least twenty-four-million dollars in bank accountslinked to Osama bin Laden and the al-Qa'eda organization.

It will not be easy to stop the financial support for al-Qa'eda.That is because not all its support comes from the movement of moneythrough banks. Reports say the terrorist group receives moneydirectly from supporters in the Middle East, and through a group ofIslamic organizations.

Al-Qa'eda also uses an ancient system of money exchange known as"hawala." Under hawala, trusted people exchange millions of dollarsaround the world. These exchanges do not use paper or otherdocuments.

Experts say Mister bin Laden also is able to move money, weaponsand men around the world through support from several Middle Easternand European businesses. The experts say some money is earnedthrough criminal actions that include selling the illegal drugsopium and heroin.

The United States says most nations have been cooperating in thefinancial campaign against terrorists. The seven leading industrialcountries recently announced a joint plan. They called on allnations to establish investigative groups, share information anddevelop ways to stop terrorist financing. And the European Union hascalled on member nations to block terrorist bank accounts and tostop the financing of terrorism.

This VOA Special English program IN THE NEWS was written by NancySteinbach. This is Steve Ember.

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