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Homeland Security and Terrorism

Second Edition

Chapter 11

Terrorist Financing

Learning Objectives

1. Explain how the terrorists financed the 911 attacks.

2. Explain the difference between money laundering and terrorist financing.

3. Discuss how the United States is attempting to reduce terrorist financing.

4. Describe how terrorist organizations raise money.

5. Describe how terrorist groups move money.

6. Discuss identity fraud and identity theft.

7. Explain how breeder documents work

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

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

Federal Mechanisms Used to Counter Terrorist Financing and Money Laundering (1 of 2)

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

Federal Mechanisms Used to Counter Terrorist Financing and Money Laundering (2 of 2)

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

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

Black Market Oil and Gas

Earning and Acquiring Resources

Donor Support of Terrorism

Criminal Activity

Charities

Legitimate Businesses

Moving or Laundering Money

Precious Commodities

Banking and Wire Transfers

Money Brokers or Hawaladars

Storing or Banking Money

Terrorist Organizations Acquire Agriculture Goods, Precious Gems and Metals, and Disposable Goods

Terrorist Organizations Develop a Business Model Whereby they Estimate their Cash Flow Needs and Develop a Timely Process or Method to Convert these Goods into Cash

Black Market Oil and Gas

Unique to ISIS

ISIS Received About $2–4 Million in Daily Profits

Saudi Arabia’s Financing of Terrorism

America’s Closest Ally in the Middle East

Wahhabism

Saudi Arabian Charities Support Terrorists

Saudi Government Supports Sunny and Other Terrorist Groups

Identity Fraud or Theft

Avoid Watch List

Obscure Their Whereabouts

Gain Unauthorized Access

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

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