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Charities in Pakistan being used to legitimise extremism: US

Charities in Pakistan being used to legitimise extremism: US

Author: PTI
Publication: The Pioneer
Date: March 8, 2009
URL: http://www.dailypioneer.com/161338/Charities-in-Pakistan-being-used-to-legitimise-extremism-US.html

The United States has said many charities in Pakistan act as channels to fund terrorist organisations, besides providing material support.

A senior official of the US Treasury Department looking after terror financing said large amounts of charity meant for Pakistan based organisations is being moved through hawala networks and hence is an "enormous" challenge to India and the world as a whole.

"You know when you talk about Pakistan, the charities that are there on the ground providing services guided by such communities legitimising violent extremist movements. They are very important for that," Acting Assistant Secretary (Terrorist Financing) of US Department of the Treasury Daniel Glaser told PTI.

Glaser who was in the national capital recently said such organisations move their money through alternate remittance system or hawala and that is an "enormous, enormous challenge to India and to all of us."

He said it is beyond dispute that charities are a primary means by which terrorists raise, move, and utilise funds.

"Most terrorist organisations openly advertise themselves as charities. Charities represent a uniquely ideal vehicle not just to raise and move funds, but to provide material support to violent extremist movements in the form of radicalisation, indoctrination and logistical cover and support," he said.

Glaser also said terror groups may be investing in stock markets like 'every one else' to fund their nefarious activities and could also be manipulating them though there are not much evidence to suggest it.

He said there have been discussions at various levels of stock markets being manipulated by terrorists but he is yet to see any evidence.

"There were lot of discussions about stock markets being manipulated by terrorists. I don't think there are lot of evidence that it (manipulation) actually happens," he said.

Glaser added, "It is a pretty challenging thing to do, to manipulate the markets. As you can see with everything going on now, even the people who have very deep understanding of the stock markets, sometime do not get it right. So I don't know how terrorists might actually successfully manipulate stock markets."

He, however, said, "They (terrorists) must be investing like everyone else."

When asked further on evidence of stock market manipulations, he said, "I have not seen any, does not mean it is not there but I have not seen anything" and added, "In a way everything is possible but I have not seen evidence."

Incidentally, National Security Adviser M K Narayanan had in 2007 said manipulation of stock exchanges is the new modus operandi used by terrorist groups to raise funds for their operations and fictitious companies have operated in the Mumbai and Chennai stock exchanges.

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