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To: tsigprofit who wrote (11413)	8/6/2002 2:46:48 PM
From: James Strauss	Respond to of 13094

Frustration over terrorist finances By Trifin J Roule and Michael Salak There is growing frustration among international agencies over a lack of co-operation with attempts to track financial support for terrorism. At a meeting held in Monaco on 7 June, members of the Egmont group, an informal organisation composed of experts in financial intelligence from 78 countries, highlighted a weak response from several countries. Participants reviewed efforts by members of the Financial Action Task Force (FATF) to implement initiatives ranging from the criminalisation of terrorist finance schemes to oversight of wire transfers and alternative remittance systems, including hawalas. FATF members had pledged in late 2001 to implement eight Special Recommendations on Terrorist Finance and to develop a process of self-assessment to aid other states in implementing the new recommendations by the end of June 2002. However, this deadline was not met due to a lack of co-operation in the international financial community - especially from states in the Middle East, including Saudi Arabia. Saudi officials are on record as saying that no bank accounts related to terrorist finance schemes have been frozen, and investigators believe there is little sign that the flow of funds to terrorist groups from charities in Saudi Arabia has ceased. janes.com Jim