Earlier this month, SFW brought to its readers a report on the possible motives of the Holder Justice Department not to prosecute CAIR (Council on American Islamic Relations) for its role in the Holy Land Foundation terrorism financing scheme: http://www.shariahfinancewatch.org/blog/2011/07/07/report-attorney-general-eric-holder-protected-hamas-linked-council-on-american-islamic-relations-for-political-reasons/ Over at Andrew Breitbart’s Big Government site, Tom Fitton of Judicial Watch, has an article about [...]
Matthew Bogdanos, a colonel in the United States Marine Corps, led the investigation into the looting of the Iraqi National Museum while serving in Iraq in 2003 and wrote about his experiences in his book, “Thieves of Baghdad.” He talks to CNN about why the loss of these treasures, often to terrorists and insurgents, is [...]
The good folks over at Jihad Watch have posted a very important story about the Saudi-controlled International Islamic Relief Organization, a terrorist NGO that funds Al Qaeda in Pakistan: From Jihad Watch: We consistently see the juxtaposition of armed jihad and social services in groups like Hamas and Hizballah, and other organizations in the Muslim world, [...]
Currently Greece faces a debt crisis that, apart from its obvious disastrous financial consequences both in a domestic and in a global scale, also raises security concerns related to terrorist networks of Islamist origin. In Athens, Greece, the Iranian Saderat bank is hosted, which is a U.S black-listed institution due to alleged links with Hezbollah. [...]
Poor financial decisions with a Chicago futures brokerage firm lost an alleged al-Qaeda operative with links to Osama bin Laden some $20 million dollars in just eight months, according to a lawsuit filed recently in Chicago by the U.S. Department of Justice. Federal officials said Abu al Tayyeb, through an associate, deposited nearly $27 million [...]
HSBC, one of the Western world’s largest apologists for, and promoters of, financial jihad, will soon pay a fine of $1 billion for failing to comply properly with anti-money laundering regulations. We should all be concerned that such a huge player in Shariah Finance, one which used to retain the Jihadist Mufti Taqi Usmani as [...]
SFW readers who conduct business with E-Trade may wish to know that the firm failed to comply with anti-money laundering regulations specifically aimed at Jihad by failing to maintain proper records on 1200 customers in Dubai. Dubai has a long history of being a finance center for Jihad, as well as a smuggling point into [...]
Patrick Poole has clearly uncovered a huge story involving Eric Holder’s Justice Department and the story keeps mushrooming… According to these congressional sources, one case that was scuttled by Assistant Attorney General David Kris (who wrote the memo declining to prosecute Omar Ahmad in the Holy Land Foundation case) was a tax evasion and money [...]
It sure would have been nice if these same concerns were shared by our shameful US Treasury Department, which held seminars on Shariah-Compliant Finance after Secretary of State Condoleezza Rice raised these issues… LONDON, March 15 (Reuters) – U.S. authorities expressed concerns that Britain’s growing sharia banking sector may be exploited to channel funds to [...]
Al Qaeda called a ‘money making machine’ by British official–that’s not even HALF the story
On March 17, 2011 · In Al Qaeda, Hamas, Hezbollah, Islamic charities, Islamic Finance, Islamic schools, Jihad, madrassas, Money Laundering, Salafism, Saudi Arabia, Sharia Compliant, Shariah Finance, Taliban, Terror Funding, terrorism, Uncategorized, Wahhabism, Zakat
The article below from The Telegraph in Great Britain quotes a British Foreign Office director as describing Al Qaeda as a “money making machine,” due to Al Qaeda in the Islamic Maghreb’s practice of ransoming hostages for money. Evidently, Italy, Spain, Austria and Switzerland have all paid such ransoms to the Jihadist terrorist organization. This [...]
How Counterfeit Money Fuels Jihad in India
On March 15, 2011 · In Hawala, India, Jihad, Money Laundering, Pakistan, Terror, Terror Funding, terrorism
India faces an increasing inflow of counterfeit currency, produced primarily in Pakistan, and terrorist and criminal networks use this money to finance their activities in the country according to the US government’s 2011 International Narcotics Control Strategy Report of the State Department. Noting that India is a significant target for terrorist groups, both external and [...]
The US Department of the Treasury took action against the Lebanese Canadian Bank SAL this week, charging that the bank facilitates Jihadist terrorist group Hezbollah’s money laundering activities. In its 14 page report the Treasury Department designated the bank as being of “primary money laundering concern,” the effect of which is to place sanctions on [...]
This article is from MoneyLaundering.com. It tends to overplay the amount of cooperation that the US is getting from the UAE in our opinion, but it also contains some good information. These particular lines are revealing of Dubai’s status as a financial rogue nation: “…every major” Dubai real estate project “has been, in part, financed [...]
Khalid Ouazzani, 32, a naturalized U.S. citizen from Morocco, was accused of swearing allegiance to al Qaeda in 2008 and using $23,500 from a commercial loan as well as the sale of his business to give to the Jihadist terrorist group in 2007… http://www.reuters.com/article/idUSTRE64I6V020100519?type=domesticNews
Hawala network tied to Times Square bomb plot
On May 17, 2010 · In Hawala, Islam, Islamic Law, Money Laundering, Shariah Law, Terror, Terror Funding, terrorism, Zakat
Hawala is an informal international Islamic money brokerage system with Shariah origins. It operates around the world, but exclusively in Islamic communities. It’s sort of like a Western Union system without any oversight. It is also used by money launderers to move wealth outside of the view of law enforcement and intelligence agencies. Hawala is also [...]
The 500 euro note, one of the largest denomination notes in the world, is being pulled from distribution in the United Kingdom. They are known in some countries as “bin Ladens” – the bank note everyone knows exists, but few people other than criminals will ever see. The decision comes after police linked 90 per [...]
Feds Move to Seize Alavi Assets, Aiming at Iran, Bank Melli (World’s Number 1 Shariah-Compliant Bank)
On November 13, 2009 · In "Ethical Investment", Alavi Foundation, CAIR, Financial Institution, Iran, Islam, Islamic Banking, Islamic Finance, Jihad, Money Laundering, Muslim Brotherhood, Qaradawi, Sharia Compliant, Shariah Banking, Shariah Finance, Terror, Terror Funding, terrorism, USA
Yesterday the US attorney’s office in Manhattan moved to seize assets of a non-profit foundation tied to Iran. Among those assets are four mosques in New York, California, Maryland and Texas, 100 acres of land in Virginia and a 36-story building at 650 5th Avenue in Manhattan. Much of this activity centers around the ties [...]
Douglas Farah on Iran’s Expanding Latin American Reach
On October 24, 2009 · In "Ethical Investment", Financial Institution, Hezbollah, Iran, Islamic Banking, Islamic Finance, Islamization, Jihad, LATIN AMERICA, Money Laundering, proliferation, Sharia Compliant, Shariah Banking, Shariah Finance, Terror, Terror Funding, terrorism
Douglas Farah is one of America’s most valuable experts on the subject of Jihad and the financial aspects of Islamist terrorism. On Friday, 23 October, Farah posted an excellent article on Iran’s continuously growing activities in the Western Hemisphere, with a particular emphasis on Iran’s inroads into the financial services sector in Central and South [...]
A prominent Lebanese businessman was charged over the weekend with embezzlement, distributing invalid checks and violating Lebanese fiscal laws in a case that local media have estimated could represent a loss of hundreds of millions of dollars to investors. Salah Ezzedine, a financier and business mogul from Lebanon’s Shiite Muslim community who has ties to [...]
Yemeni men plead guilty in NY to money laundering
On August 31, 2009 · In Hezbollah, Jihad, Money Laundering, Terror, Terror Funding, terrorism, USA, Yemen
Three Yemeni businessmen in western New York have pleaded guilty to money laundering charges, ending their federal court trial. The men were charged in March 2007 after authorities said they sent $200,000 overseas knowing it was illegally obtained and could benefit the Iranian-backed, Lebanese-based Jihadist terrorist group Hezbollah. These men will be sentenced to between [...]
“The United States will likely sanction a newly opened Gaza Strip-based bank said to have Hamas members on its board of directors, say former government officials. The National Islamic Bank, which opened in the Hamas-controlled portion of the Palestinian territories on Tuesday, plans to hold accounts for 6,000 employees of the political organization, sanctioned as [...]
Last week, we reported on action taken by the US Treasury against Doha Bank in Qatar as reported by Money Laundering Alert. This week is barely off to a start and Money Laundering Alert has just come out with a new report on an Islamic Bank in Gaza which has been blacklisted by the US [...]
Readers of SFW may recall that we have been closely watching University Islamic Bank in Ann Arbor, Michigan: http://www.shariahfinancewatch.org/blog/category/university-islamic-bank/ We have always been troubled by many aspects of Shariah-Compliant Banking and Finance and we were taken aback by the attitudes expressed by the President of the bank, Stephen Ranzini. We addressed all of those issues [...]
Another Muslim charity tied to terror
On February 28, 2009 · In Britain, Islamic charities, Money Laundering, Qaradawi, Shariah Boards, Terror, Terror Funding, terrorism, United Kingdom, Zakat
One of the chief concerns about Shariah-Compliant Finance is the dual system of payments to Islamic charities that is an important aspect of being Shariah-Compliant. One of the payment systems is tied to one of the five pillars of Islam, that of zakat, which is a form of tithing mandatory for pious Muslims, and also [...]
Iran, Terrorism, Proliferation and Shariah-Compliant Finance
On January 5, 2009 · In "Ethical Investment", Abu Dhabi, Australia, Britain, Conference, Dubai, European Union, Financial Institution, Hamas, Iran, Islamic Banking, Money Laundering, Sharia Compliant, Shariah Banking, Shariah Finance, Shariah in Academia, Terror Funding, terrorism, UAE, USA
In April of 2008, I attended Harvard Law School’s celebration of “Islamic Finance.” This event has been labeled by others as “shilling for shariah” at Harvard and, I must say, that is exactly what it was. During the two days of presentations, there was absolutely no critical thought expressed on the wider issue of Shariah. [...]
by Nancy Reyes http://tinyurl.com/5qw4bw Sometimes making peace just makes things worse, as can be seen in the Philippines. President Arroyo has been under a lot of pressure by Muslim countries and the United States to make peace with the remaining Moro (Muslim ethnic) group in Mindanao. The MNLF made peace years ago, but the [...]
Malta at risk of intermediate money laundering http://tinyurl.com/5p5kwn by Vanessa Macdonald – editorial@di-ve.com Local News — 29 August 2008 — 10:30CEST It is possible that Malta is being used by criminals to launder money in the intermediate stage, according to the annual report issued by the Financial Intelligence Analysis Unit. The unit said that just [...]
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