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Thread: Terrorist Finance (merged thread)

  1. #61
    Council Member davidbfpo's Avatar
    Join Date
    Mar 2006

    Default Beyond Banking: Professor Neumann’s opening keynote address at “No Money for Terror”

    A speech following up on Professor Neumanns published views. Here are two selected passages:
    To be more specific, I am convinced that, when it comes to countering terrorist finance, there has been an excessive, an exaggerated, an over the top focus on the formal financial sector.
    In fact, the single most successful blow to ISIS’s finances was something that had little to do with what people typically associate with countering terrorist finance. It was an American military air strike against a cash depot of ISIS in Iraq. In a single day in January 2016, it destroyed an estimated 50 million dollars — nearly the same amount that had been frozen and confiscated in 15 years of countering terrorist finance through the international financial system.

  2. #62
    Council Member AdamG's Avatar
    Join Date
    Dec 2005
    Hiding from the Dreaded Burrito Gang


    A young New York woman pleaded guilty Monday to supporting the Islamic terror group ISIS with a scam involving bank fraud, bitcoin and other cryptocurrencies.
    Zoobia Shahnaz, 27, of Brentwood, Long Island, admitted to wiring more than $150,000 to individuals and shell entities that were fronts for ISIS in Pakistan, China and Turkey in 2017.
    Shahnaz engaged in a scheme to scam Chase Bank, TD Bank, American Express and Discover by fraudulently obtaining six credit cards, according to another court filing. She then bought more than $62,703 in Bitcoin and other cryptocurrencies, and converted the currencies to cash.
    Last edited by davidbfpo; 07-29-2019 at 02:50 PM. Reason: 122,604v today
    A scrimmage in a Border Station
    A canter down some dark defile
    Two thousand pounds of education
    Drops to a ten-rupee jezail

  3. #63
    Council Member davidbfpo's Avatar
    Join Date
    Mar 2006

    Default AML legislation is the least effective of any anti-crime measure, anywhere

    Discovered today via a "lurker" a November 2017 submission to the Senate Judiciary Committee by an ex-US financial crimes investigator, which has some stunning quotes and this response from a contact immersed in this area:
    This should be compulsory reading for everyone engaged in law enforcement!
    It is seventeen pgs. long and is an easy read.

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