Spy vs. Spy, America Vs. Israel...Money laundering is a part of supporting terrorism too.

Submitted by Anne (United States), Aug 10, 2012 at 16:16

The US has become corrupted by the buyout of little banks who were local and mostly honest. HSBC is a leader in promoting Sharia compliant financial instruments that if truly sharia-compliant require a percentage of their profits to be given as zakat to Muslim charities. Given how many Muslim charities in the past ten years have been linked to terrorism-financing, it is a virtual certainty that some portion of those zakat funds are ending up in the hands of terrorists, which they use against Israel, America, and other European countries.

Global Giant HSBC failed to prevent billions of dollars worth of money transfers that Senate investigators believe were linked to drug cartels, and terrorist groups. HSBC Mexico had a number of high-profile clients linked to drug trafficking, as well as a huge backlog of accounts marked for closure due to suspicious activity, but whose closures were delayed. Saudi Arabia's Al Rajhi Bank has also been linked to terrorism financing and possibly the key founder as an early benefactor of Al Qaeda. More is coming out on this money laundering and the funding of regimes that are destructive forces.

Note: Opinions expressed in comments are those of the authors alone and not necessarily those of Daniel Pipes. Original writing only, please. Comments are screened and in some cases edited before posting. Reasoned disagreement is welcome but not comments that are scurrilous, off-topic, commercial, disparaging religions, or otherwise inappropriate. For complete regulations, see the "Guidelines for Reader Comments".