Fight Against the Funding of Terrorists
Following the events of 9/11, President Bush and the US Treasury Department blocked the financial assets of individuals and organizations connected with Al Taqua and the Al Barakaat, two terror-supporting financial institutions. Al Tacqua has been linked with helping Al Qaeda, and Al Barakaat is owned by a friend of Osama Bin Laden. These two institutions raise money for Al Qaeda, provide terrorist supporters with internet service, and arrange for the shipment of weapons. In blocking such financial transactions, The United States has sent a message to global financial institution that they will face consequences if they support terrorists.
The United Kingdom has also taken substantial steps in cracking down on money laundering. UK Chancellor Gordon Brown addressed the issue in October of 2006.
In his latest pronouncement, Mr Brown has focused on three aspects of the fight against the funding of terrorism.
Firstly, he has reiterated the need to safeguard legitimate organisations such as charities and money transfer businesses from being abused for terrorist purposes.
Secondly, he is keen to harness the strengths of the private sector, in the shape of forensic accountants, financial institutions and investigators.And thirdly, he says that existing powers to freeze the assets of alleged terrorists are nowhere near strong enough
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  Our aim is simple: just as there be no safe haven for terrorists, so there be no hiding place for those who finance terrorism  Chancellor Gordon Brown
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