Terrorist Financing - Intro into Intelligence

Homeland Security, First Edition © 2012 Pearson Education, Inc. All rights reserved.

Terrorists Financing

CHAPTER 11

Homeland Security, First Edition Gaines

© 2012 Pearson Education, Inc. All Rights Reserved.

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Terrorist Financing of the 9/11 Attacks

• $300,000 Was Deposited in Bank
• Moved to U.S. by Bank Transfer
• Hijackers Carrying Traveler’s Checks to US
• Credit or Debit Cards Used to Access Foreign Bank Account

Homeland Security, First Edition Gaines

© 2012 Pearson Education, Inc. All Rights Reserved.

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Distinguishing Terrorist Financing and Money Laundering

• Money Laundering – Three Step Process:

Illegally Derived Money is Placed Into the Financial System

It is Layered or Moved Through the Financial System, Usually Internationally, and Intermingled With Legitimate Profits and Monies to Hide Its Provenance

It is Returned and Reintegrated Into the Legitimate Economy

Homeland Security, First Edition Gaines

© 2012 Pearson Education, Inc. All Rights Reserved.

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Federal Mechanisms Used to Counter Terrorist Financing and Money Laundering

• The Central Intelligence Agency
• Bureau of Customs and Border Protection and Bureau of Immigration and Customs
• U.S. Secret Service
• The Bureau of Alcohol, Tobacco, Firearms, and Explosives
• Drug Enforcement Agency
• Federal Bureau of Investigations

Homeland Security, First Edition Gaines

© 2012 Pearson Education, Inc. All Rights Reserved.

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Federal Mechanisms Used to Counter Terrorist Financing and Money Laundering (continued)

• Bureau of Economic and Business Affairs
• Office of the Coordinator for Counterterrorism
• Executive Office for Terrorist Financing and Financial Crime
• Financial Crimes Enforcement Network
• Internal Revenue Service

Homeland Security, First Edition Gaines

© 2012 Pearson Education, Inc. All Rights Reserved.

11-*

Means and Methods of Terrorist Financial Transactions

• Earning or Acquiring Resources
• Moving or Laundering the Money
• Storing or Banking the Money Until It is Needed

Homeland Security, First Edition Gaines

© 2012 Pearson Education, Inc. All Rights Reserved.

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Earning and Acquiring Resources

• Donor Support of Terrorism
• Criminal Activity
• Charities
• Legitimate Businesses

Homeland Security, First Edition Gaines

© 2012 Pearson Education, Inc. All Rights Reserved.

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Identity Fraud or Theft

• Avoid Watch List
• Obscure Their Whereabouts
• Gain Unauthorized Access

Homeland Security, First Edition Gaines

© 2012 Pearson Education, Inc. All Rights Reserved.

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Real ID Act

• A Photo Identity Document
• Documentation Showing The Person’s Date of Birth
• Proof of Person’s Social Security Account Number (SSN) or Verification That the Person is Not Eligible for a SSN
• Documentation Showing the Person’s Name and Address of Principal Residence