National
Pak. curbing fund flow to terrorists: Dam
By Mahesh Vijapurkar
MUMBAI
FEB. 11.
The U.S. is satisfied that "Pakistan is doing everything in its power'' to freeze the flow of funds to terrorists, according to the U.S. Deputy Secretary for Treasury, Kenneth Dam.
Talking to reporters here today, he said, "money laundering provides an environment for terrorists to exploit". Already, the Al-Qaeda was hunting for money. The money flow could be checked even if a single transaction was stopped, and this called for an international cooperation. Since September 11, efforts had been made internationally to choke the flow of funds, and $ 35 million in the U.S. and $ 45 million in other countries had been frozen, he said.
On the U.S. President, George W. Bush's direction, Mr. Dam has been pushing for more information sharing and also independent notification of terrorists groups by the nations.
Mr. Dam's visit is to hold talks on strengthening Indian economy and exploring efforts to combat financing of terrorism. Cooperation was absolutely the key, Mr. Dam said, because "you cannot bomb a terrorist's bank account on a foreign soil". Small countries without a strong regulatory mechanism to deal with money laundering could take the help of the U.S., he said.
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