President Bush issued an executive order today to freeze the U.S. assets of 27 groups and individuals suspected to support terrorism. Calling the order a "strike on the financial foundation" of terrorists, the President called on financial institutions around the world to follow suit. If foreign banks did not take similar action, Bush warned that those banks may have their U.S. assets frozen.
A financial assault is seen by many as an important component of the war against terrorism. Jeffrey Robinson, author a two books on money laundering, says the financial war will be difficult, because funding for terrorism does not come from a rich ex-Saudi millionaire as most people thing — but from criminal activity and charities.
Randall Dodd, Professor of Economics at American University;
Jeffrey Robinson, author of "The Laundrymen: Inside Money Laundering, the World's Third-Largest Business"
This program aired on September 24, 2001.