NEWS

Al Qaeda routing money to India via Europe

Source:PTI
March 06, 2011

European countries are being used as hot destinations by terror group Al Qaeda to route money to India, according to a report by Peruvian Financial Intelligence Unit (FIU).
     
The report said the FIU had found at least one case of such suspicious transaction by the Al Qaeda every month and shared them with the US investigators. "The FIU also reports tracking cases similar to that of an OFAC-designated (US Office of Foreign Assets Control) of Al Qaeda elements moving money from Europe through Lima and on to India," the report leaked by Wikileaks, a non-profit media organisation dedicated to bringing important information to the public, quoting FIU head Enrique Saldivar disclosed.
     
"Asked if this Al Qaeda case was the first of its kind or they had seen similar cases before, Saldivar said that they see about one case a month," the cable said.
     
The FIU receives and analyses STRs, may request additional information relevant to cases or operations related to money laundering or terrorist financing, provides Financial Intelligence Reports (FIR) to the Public Prosecutor's Office, participates and/or

requests joint investigations, and coordinates with foreign FIUs and entities.
     
"Of the 7,710 suspicious activity reports examined by FIU analysts in 2009, 781 resulted in financial intelligence reports  sent to the Public Ministry for further processing and investigation.
     
"Based on these 781 intelligence reports, the FIU concludes more than 3 billion USD moved illegally through Peru's financial sector in 2009," it said.
 
"83 per cent of this amount, according to the FIU, is related to drug trafficking. The other 17 per cent is reportedly related to fiscal fraud, corruption and illegal gun dealing. Currently, 308 of these intelligence reports are at various stages of investigation and prosecution in the legal system – as compared to four cases in 2008," the cables read.
     
According to Saldivar, anti-money laundering efforts in Peru are hindered by several factors.

Source: PTI
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