04 December 2001
Text: O'Neill Announces Asset-Freeze of Hamas-Controlled Organizations
(Also reports on blocking of Taliban, al-Qaida assets) (480)
Treasury Secretary Paul O'Neill announced the shutting down of three
Hamas-controlled organizations that provide financial backing for the
Palestinian terrorist group.
In an announcement released in Washington December 4, O'Neill named
the organizations as the Holy Land Foundation, which raised $13
million for Hamas in 2000, the Al-Aqsa Bank and the Beit al-Mal Bank.
O'Neill called the two banks "direct arms of Hamas, established and
used to do Hamas business."
The treasury secretary also said $61 million of assets belonging to al
Qaida and the Taliban have been seized since October.
Following is the text of O'Neill's announcement:
(begin text)
December 4, 2001
Statement of Secretary Paul O'Neill on the Blocking of Hamas
Financiers' Assets
When the President declared war on terrorist financing in September,
we made al Qaida our primary focus of attention, and have since
blocked $61 million worldwide in assets of the Taliban and al Qaida.
In October, we broadened our pursuit of terrorist assets to include
all Foreign Terrorist Organizations, including Hamas. We stated very
clearly our intent to pursue the bankers who finance these terrorists.
Today, we are advancing on those financiers of terror.
The Hamas terrorist organization has taken the lives of scores of
individuals, including American citizens. They have proudly claimed
credit for their acts of evil, including the horrific attacks this
past Sunday. They raise money in the United States and around the
world. Clearly, Hamas is a terrorist organization of global reach.
Today we are shutting down three Hamas-controlled organizations that
finance terror. The Holy Land Foundation masquerades as a charity,
while its primary purpose is to fund Hamas. This is not a case of one
bad actor stealing from the petty cash drawer and giving those stolen
monies to terrorists. This organization exists to raise money in the
United States to promote terror.
Last year, Holy Land raised $13 million. Government agents today shut
down 4 offices of the Holy Land Foundation in the United States.
Innocent donors who thought they were helping someone in need deserve
protection from these scam artists who prey on their benevolence.
Similarly, the al Aqsa bank and the Beit al Mal bank aren't just banks
that unknowingly administer accounts for terrorists. They are direct
arms of Hamas, established and used to do Hamas business.
We will continue to name the financiers of terrorism to ensure that
Hamas and other terrorist organizations have no ability to finance
their acts of evil. We will work with every civilized nation around
the globe to ensure there is no safe haven for terrorist money. Just
as in a ground war, we will win by taking one hill at a time,
advancing tirelessly every day, until terrorists and their money have
nowhere to hide.
(end text)
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