Theodore's World: Treasury Issues Final Rule Against Commercial Bank of Syria

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March 10, 2006

Treasury Issues Final Rule Against Commercial Bank of Syria

Germany Says 9/11 Hijackers Called Syria and Saudi Arabia
Chicago Tribune

The Sept. 11 hijackers made dozens of telephone calls to Saudi Arabia and Syria in the months before the attacks, according to a classified report from the office of German Chancellor Angela Merkel.

Some 206 international telephone calls were known to have been made by the leaders of the hijacking plot after they arrived in the U.S. - including 32 to Saudi Arabia and 66 to Syria.

And this one also related to Syria

Feds Order U.S. Banks to Sever Syria Ties

Acting to crack down on terrorist financing, the Treasury Department on Thursday ordered all commercial banks in the United States to end their relationships with two Syrian banks.

The order covers the state-owned Commercial Bank of Syria and its subsidiary, the Syrian Lebanese Commercial Bank.

The department said that all U.S. banks must close any accounts they have with the two banks.

"Today's action is aimed at protecting our financial system against abuse by this arm of a state-sponsor of terrorism," said Stuart Levy, Treasury's undersecretary for terrorism and financial intelligence.

"The Commercial Bank of Syria has been used by terrorists to move their money and it continues to afford direct opportunities for the Syrian government to facilitate international terrorist activity and money laundering," Levy said.

The order makes final a preliminary order against the two banks that Treasury issued last May.

At that time, Treasury issued a finding that the Commercial Bank of Syria was a "primary money laundering concern" under provisions of the Patriot Act that allow the department to cut off dealings of U.S. banks with foreign banks that receive such a designation.

Annual Threat Assessment of the Director of National Intelligence for the Senate Armed Services Committee

Statement by the Director of National Intelligence, John D. Negroponte to the Senate Armed Services Committee"
28 February 2006

Wild Thing's comment......
I think this is a good sign and helping to cut off the funding and money laundering operations of the crime family that runs Syria.

Posted by Wild Thing at March 10, 2006 12:10 AM


It would be better to freeze the accounts, make the announcement, then review the account holders here in the states.

Posted by: Washington at March 10, 2006 08:06 AM

Hi Washington, freezing them would work as well. Thanks for commenting on this.

Posted by: Wild Thing at March 10, 2006 09:27 AM