All banks should.
Bruce http://ia.rediff.com/money/2006/oct/20terror.htm?q=bp <http://ia.rediff.com/money/2006/oct/20terror.htm?q=bp&file=.htm> &file=.htm Indian banks must watch out for terror dealings: US October 20, 2006 04:10 IST The United States wants India to join financial action task force, an initiative to curve financing to terrorist outfits. Jimmy Gurule, a member of the American law institute and an adviser to US treasury department to combat terrorist financing, said in Kolkata that Indian banks and financial institutions should take more pro-active approach to see the end use of transactions. According to him, the banking channel is gradually becoming the most preferred way of transaction for terrorist outfits. "It is a myth that terrorist outfits are not using the banking channel. They are utilising this because it is safest and quickest way of transacting money globally," he said. He pointed out that other two channels like Hawala and bulk cash couriers have lost significance for the outfits because it is risky and slow. Citing the example of how Russian drug mafias utilised banking channels in United States, he said that ABN AMRO Bank was fined $80 million for not adequately tracking some transactions. "Since 9/11, we have frozen bank account in US worth $200-300 million. This is huge money if we consider that Al-Qaeda had spend close to $0.5 million for the 9/11 incident. So you could easily understand what $300 million could do," he added. Gurule cautioned bankers that as US norms were becoming more and more stringent, the terrorist outfits might use network of countries like India for monetary transactions FAIR USE NOTICE: All original content and/or articles and graphics in this message are copyrighted, unless specifically noted otherwise. All rights to these copyrighted items are reserved. Articles and graphics have been placed within for educational and discussion purposes only, in compliance with "Fair Use" criteria established in Section 107 of the Copyright Act of 1976. The principle of "Fair Use" was established as law by Section 107 of The Copyright Act of 1976. "Fair Use" legally eliminates the need to obtain permission or pay royalties for the use of previously copyrighted materials if the purposes of display include "criticism, comment, news reporting, teaching, scholarship, and research." Section 107 establishes four criteria for determining whether the use of a work in any particular case qualifies as a "fair use". A work used does not necessarily have to satisfy all four criteria to qualify as an instance of "fair use". Rather, "fair use" is determined by the overall extent to which the cited work does or does not substantially satisfy the criteria in their totality. If you wish to use copyrighted material for purposes of your own that go beyond 'fair use,' you must obtain permission from the copyright owner. For more information go to: <http://www.law.cornell.edu/uscode/17/107.shtml> THIS DOCUMENT MAY CONTAIN COPYRIGHTED MATERIAL. COPYING AND DISSEMINATION IS PROHIBITED WITHOUT PERMISSION OF THE COPYRIGHT OWNERS. [Non-text portions of this message have been removed] -------------------------- Want to discuss this topic? Head on over to our discussion list, [EMAIL PROTECTED] -------------------------- Brooks Isoldi, editor [EMAIL PROTECTED] http://www.intellnet.org Post message: [email protected] Subscribe: [EMAIL PROTECTED] Unsubscribe: [EMAIL PROTECTED] *** FAIR USE NOTICE. This message contains copyrighted material whose use has not been specifically authorized by the copyright owner. OSINT, as a part of The Intelligence Network, is making it available without profit to OSINT YahooGroups members who have expressed a prior interest in receiving the included information in their efforts to advance the understanding of intelligence and law enforcement organizations, their activities, methods, techniques, human rights, civil liberties, social justice and other intelligence related issues, for non-profit research and educational purposes only. We believe that this constitutes a 'fair use' of the copyrighted material as provided for in section 107 of the U.S. Copyright Law. If you wish to use this copyrighted material for purposes of your own that go beyond 'fair use,' you must obtain permission from the copyright owner. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/osint/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/osint/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
