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Al-Qaeda fund apparatus can survive Osama`s death: Report
Al-Qaeda`s money apparatus could survive even if Osama bin Laden is captured or killed, as the network generates millions of dollars a year through private enterprises, corporate shells and charities but often traffics in small amounts, American investigators said.
Al-Qaeda's money apparatus could survive even if Osama bin Laden is captured or killed, as the network generates millions of dollars a year through private enterprises, corporate shells and charities but often traffics in small amounts, American investigators said.
Despite progress in unraveling the finances of the terror attacks, officials say dismantling the overall financing of Al-Qaeda is proving difficult, in part because it hinges far less on bin Laden's fortune than was once believed.
The officials have concluded that Osama bin Laden's inheritance, once estimated at 300 million dollars was actually more in the range of $ 25 million.
Instead of relying on bin Laden's fortune, Al-Qaeda uses an amalgam of private enterprises, corporate shells and charities that are structured like a financial archipelago with connections hidden beneath the surface, a media report said in New York on Monday.
“The investigators have uncovered at least $238,000 sent to September 11 hijackers in the US through dozens of wire transfers from the United Arab Emirates,” it said.
Bureau Report
Despite progress in unraveling the finances of the terror attacks, officials say dismantling the overall financing of Al-Qaeda is proving difficult, in part because it hinges far less on bin Laden's fortune than was once believed.
The officials have concluded that Osama bin Laden's inheritance, once estimated at 300 million dollars was actually more in the range of $ 25 million.
Instead of relying on bin Laden's fortune, Al-Qaeda uses an amalgam of private enterprises, corporate shells and charities that are structured like a financial archipelago with connections hidden beneath the surface, a media report said in New York on Monday.
“The investigators have uncovered at least $238,000 sent to September 11 hijackers in the US through dozens of wire transfers from the United Arab Emirates,” it said.
Bureau Report