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Terrorist Attacks in the U.S. and U.K. Funded Mostly by Fraud, Says Former Investigator
printThough mobile banking and stored value cards have created new opportunities for financial crimes, many terrorist organizations still rely on petty fraud to raise money, at times through financial institutions, according to Simon Dilloway. Dilloway, a former investigator for the U.K.'s Metropolitan Police, investigated the July 7, 2005 London bombings that targeted the city's public transportation system. The attack was funded by fraud, said Dilloway, now a principal at the London-based Lopham Consultancy, which specializes in anti-money laundering (AML) and counterterrorism financing. Dilloway spoke with reporter Larissa Bernardes about the many ways terror groups have raised money as well as...
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