‘Terrorist Fund-Raising’ Activities Targeted

U.S. Treasury Secretary Paul O’Neill said his administration would begin blocking bank accounts that are tied to “terrorist fund-raising” activities.

“We have resolved that we are going to take an intensive effort to deal with terrorist fund-raising like it has never been done before,” O’Neill told a hearing of the Senate Banking Committee convened to assess the financial toll on the nation.

O’Neill said a massive effort was underway in cooperation with governments and law enforcement authorities around the world to “begin a closing down of bank accounts” of individuals and groups tied to what he called terrorist activities.