12 October 2001
Text: Treasury's Gurule on U.S. Action Freezing Terrorist Assets
(Foreign banks warned to cooperate or face consequences) (720)
Foreign banks that do not cooperate in freezing terrorists' assets can
no longer do business in the United States or U.S. financial markets,
says Jimmy Gurule, Treasury under secretary for enforcement.
"We are putting the world on notice that those choosing to fund acts
of terror can no longer hide behind legitimate business functions and
expect to escape action by the U.S.," Gurule said.
In an October 12 statement, Gurule described the U.S. action freezing
financial assets of 39 more persons and entities connected with
terrorism, including those on the FBI's most-wanted terrorists list.
Among the entities whose assets have been frozen were two honey
producers and a bakery now known to funnel terrorist money
surreptitiously, he said.
"We are developing an understanding of the vast and complicated
network that funded the evil acts of September 11," he said.
Following is the text of Gurule's statement:
(begin text)
October 12, 2001
Statement of Jimmy Gurulé
Treasury Under Secretary for Enforcement
I want to join [Treasury] Secretary O'Neill in thanking you all for
coming today. As the Secretary has stated 39 additional names have
been added to the President's September 24th Executive Order. In
addition to the 21 new names listed here today, Treasury's Office of
Foreign Assets Control has also instructed U.S. banks to freeze the
assets of 18 of the 22 FBI's Most Wanted Terrorists. The remaining 4
have already been named by President Bush in the Annex to the
September 24th Executive Order.
When the President decided to take action against the terrorist's
financial infrastructure, he galvanized the world to take
unprecedented steps to disrupt the financial networks of terrorism.
Today we add another brick to the international wall we are building
against the funding of terrorist acts around the world. We are
determined to paralyze the terrorists' ability to move funds through
the international banking system, and we are using every tool at our
disposal to cut off the various sources of funding for their
atrocities. The civilized world has spoken with one voice --
individuals and organizations that infuse these terrorist
organizations with money are no better than the terrorists
perpetrating these acts. We will shut down their fundraising and expel
them from the global financial system. Today we have taken a giant
step forward in that effort.
The list you have here today is the product of an intense process of
information sharing among federal law enforcement and intelligence
agencies. As we combine our knowledge, we are developing an
understanding of the vast and complicated network that funded the evil
acts of September 11. We will follow the money trail to identify all
of those who provide support for terrorism, wherever they may be. We
will block accounts here in the U.S., and when funds are found abroad
our allies will join us in this effort to block assets and deny
terrorists the resources they need to inflict terror on the U.S. or
any other nation.
Let me address for a moment some specific entities that are mentioned
on the list. There are 6 entities and 33 individuals. Additional names
will be added to the list in the weeks and months to come. As has been
widely reported in the news media, the terrorists often use creative
methods to transfer funds internationally without detection. For
instance, some honey producers, and other related businesses in the
Middle East, have been known to act as vehicles for moving terrorist
funds surreptitiously. The Treasury Department today identified two of
these honey businesses, in addition to a bakery, that funnel funds to
terrorists. We and our allies around the world will be blocking the
assets of these entities. These entities, and the banks that do not
cooperate in blocking the assets, will no longer do business with the
United States or with U.S. capital markets. We are putting the world
on notice that those choosing to fund acts of terror can no longer
hide behind legitimate business functions and expect to escape action
by the U.S.
I would be happy to answer a few questions at this time.
(end text)
(Distributed by the Office of International Information Programs, U.S.
Department of State. Web site: http://usinfo.state.gov)
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