Al Qaeda's Feverish Hunt For Cash

From CBS News:

Al Qaeda is facing its most dire financial difficulties in years, according to the U.S. Treasury. Assistant secretary for terrorist financing, David Cohen, said that the terrorist organization is currently in its weakest financial condition.

"The influence of the network, damaged by U.S. efforts to choke funding, is waning," Cohen said.

Read more ....

My Comment: After 9/11, Al Qaeda was the only game in town. Today, there are numerous terror groups and organizations that are chasing after the same dollar. While U.S. efforts may have been successful in limiting funds going to Al Qaeda leaders, they have clearly failed in limiting funds going to the Taliban.

Al-Qaeda 'Faces Funding Crisis'

From The BBC:

Al-Qaeda is in its worst financial state for many years while the Taliban's funding is flourishing, according to the US Treasury.

Senior Treasury official David Cohen said al-Qaeda had made several appeals for funds already this year.

The influence of the network - damaged by US efforts to choke funding - is waning, he said.

The Taliban, meanwhile, are in better financial shape, bolstered by Afghanistan's booming trade in drugs.

According to Mr Cohen, the al-Qaeda leadership has already warned that a lack of funds was hurting the group's recruitment and training efforts.

Read more ....

More News On Al Qaeda's Finances

Al-Qaida losing influence as Taliban thrives, US says -- The Guardian
Al Qaeda hit by financial crisis -- ABC News
Official: Taliban better financed than al-Qaida -- AP
U.S. claims to disrupt al Qaeda funds -- Washington Times
US Treasury:Terrorist Groups Relying More On Crime For Funding -- Wall Street Journal

US: Iraqi Fighters Extort, Kidnap To Raise Funds

A U.S. Army soldier from Ghostrider Company, Third Squardron, Second Stryker Cavalry Regiment wipes the sweat from his brow after his platoon searched a rural village during Operation Wolfpack Catseye near Qara Tappah, about 75 miles northeast of Baghdad in Iraq's volatile Diyala province on Tuesday, July 22, 2008. The squadron fanned out near the Iranian border to root out al-Qaida leadership and deny them safe haven as part of a renewed push to secure the Diyala province.(AP Photo/Maya Alleruzzo)

From Yahoo News/AP:

WASHINGTON - Al-Qaida in Iraq is increasingly embracing extortion and kidnapping to finance its operations as cash carried in by its dwindling foreign fighter network is drying up, according to U.S. intelligence and documents captured in Iraq.

Al-Qaida in Iraq's funding scheme could drive an even deeper wedge between the terrorist organization and the Iraqi tribes and others who once joined forces against the U.S.-led invasion and occupation.

The smuggling network that funnels foreign fighters and weapons into Iraq has been under increasing pressure in the past year, squeezed from three sides: by Iraqi tribes, who, repelled by the violence, are making it increasingly difficult for terrorist networks to operate and hide among them; by more effective U.S. and Iraqi military operations, and by governments in the region — notably Saudi Arabia and Morocco — that are cracking down on al-Qaida and the smuggling networks that feed the insurgency.

Read more ....

My Comment: Who wants to pump money into a losing cause? I am sure that there will still be many who will provide funds and resources to help extremists and Al Qaeda groups in Iraq .... but this is just a trickle from what it use to be.

The excitement of Jihad and going to Iraq to fight the infidel is losing its luster. The vast majority of the extremists who are now fighting against coalition and Iraqi forces are doing so because of personal issues. Once they are gone .... there will be no one else to fight.