Quote from traderNik:
Hi Hap
My big question about this article is this - what in the hell is the big deal here? Does anyone seriously think that the terrorists do not know that if they send money through the international banking system, the US authorities may see the transaction? This whole idea that Osama Bin Laden read this article and was able to fine tune his plans, thus making it easier for him to kill Americans, is baloney, imo. There is nothing in this article that would provide a terrorist with anything!! It is a serious mistake to underestimate one's enemies. Does anyone really believe that these terrorists do not have access to wealthy people and entities who know about the swift system and can advise them about the possibility that their transactions will be surveilled? Is not Osama himself a product of a wealthy Saudi business family? Does anyone seriously believe that he is/was unaware that international money transfers are cleared through central agencies, and that post 9/11, the U.S. would be surveilling every possible source for information?
Furthermore, let us take the example of a terrorist who was not aware that international money transfers are cleared through the SWIFT system. How many of this type are using international banking to move money around the globe? To me it is almost impossible that anyone this unsophisticated wouldn't't be using the 'hawala' (hope I have that right) system of money transfer.
Nik, I appreciate your lengthy and thoughtful response. However, I completely disagree with your conclusions and assessment of the situation.
First of all, it is your opinion, and apparently that of the NY Times, that the information in the article would not be of any use to Al Qaeda (assuming that was the reason the Times published the article, and not because headlines and Pulitzers combined with hatred of the Bush Administration make national security a secondary consideration, if that).
So let me ask you this: Are you a counterterrorism expert? Are any editors or reporters of the NY Times counterterrorism experts? Do you, or they, have the knowledge and experience of terrorist financing and operations to say unequivocally that the release of this information is
guaranteed to be of no value to Al Qaeda? If there is any doubt whatsoever, the answer is no. Treasury and security officials, those VERY familiar with terrorism financing and operations, pleaded with the Times not to publish the article. Heck, even John "Cut and Run" Murtha, asked them not to publish the article because he thought it may somehow, some way, endanger the troops on the ground.
A counterterrorism and terrorist finance expert, former FBI agent Dennis Lormel said:
âFor my colleagues who have been skeptical of the U.S. Governmentâs efforts in terrorist financing, this program, the cooperation with other financial providers, such as First Data Corporation and Western Union, contributed significantly to the A- grade given the Government for Terrorist Financing by the 9/11 Commission.â
And speaking of the 9/11 Commission, according to ABCâs âWorld News Tonight, its chairman, Thomas Kean, also asked the Times not to report this SWIFT information, and was quoted as saying:
âI think we have one less tool because weâve â weâve found that al Qaeda â when they find out things weâre using to intercept messages, intercept money, intercept whateverâtheyâd stop doing that. We were, probably, a step ahead of them and in this area, weâre not ahead of that step anymore.â
Second, if the terrorists are as smart as you say, and this program is as useless as you say, then we shouldn't have captured any terrorists with it, right? Well, we have. We caught the Al Qaeda operative Hambali who masterminded the 2002 Bali resort bombing, with the program. We also caught a Brooklyn man who was aiding a Qaeda operative in Pakistan by trying to launder money through a Karachi bank. Clearly, this program was paying dividends, and who knows where it might have led?
The NYT evidently balanced the potential damage to U.S. counterterrorism efforts with the probative value of exposing another effort on the part of the Bush administration that may push the boundaries of what is legal. I am beginning to understand something. The hard right here at ET are not representative of the majority right in the USA. I can't believe that there aren't others on the right who would agree that they do not want their privacy intruded upon, and they do not want any government to operate outside the boundaries defined by the right to privacy and freedom from unwarranted surveillance.
Whoa, Nik. The Times itself reported that SWIFT examinations
have no impact upon domestic banking transactions!!!
âThe data does not allow the government to track routine financial activity, like A.T.M. withdrawals, confined to this country, or to see bank balances, Treasury officials said. And the information is not provided in real time â Swift generally turns it over several weeks later. Because of privacy concerns and the potential for abuse, the government sought the data only for terrorism investigations and prohibited its use for tax fraud, drug trafficking or other inquiries, the officials said.â
Actually, Forbes magazine reported that American banking transactions are performed by a completely separate entity from SWIFT:
âIn the U.S., domestic funds transfers are handled by the Automated Clearing House, which relayed information on some 14 billion payments last year, worth a total of more than $30 trillion, including bank-originated transfers and U.S. government transfers.â
http://www.forbes.com/business/2006/06/23/swift-terrorist-money-transfer-cx_lm_0623swift.html
SWIFTâs own press release states that there were multiple levels of oversight and redundant procedures in place to protect SWIFTâs clients before the company complied with US government-issued subpoenas:
âSWIFT negotiated with the U.S. Treasury over the scope and oversight of the subpoenas. Through this process, SWIFT received significant protections and assurances as to the purpose, confidentiality, oversight and control of the limited sets of data produced under the subpoenas. Independent audit controls provide additional assurance that these protections are fully complied with.
âAll of these actions have been undertaken with advice from international and U.S. legal counsel and following our longstanding procedures on compliance, established by our Board.
âSWIFT is overseen by a senior committee drawn from the G-10 central banks and has informed them of this matter.â
http://www.latimes.com/news/printed...e,1,1009916.story?coll=la-headlines-frontpage
So Nik, this
classified national security program:
1) Does not violate domestic or international banking laws;
2) had the cooperation - and oversight - of the largest central banks around the globe;
3) was regularly checked out via international legal counsel examinations;
4) was approved by former Federal Reserve chairman Alan Greenspan, and;
5) had zero impact on Americans except to try and protect them from Islamofascists who would love nothing more than to slit their throats.
I simply don't see how the privacy and rights of American citizens are being violated here.