HISTORIC PRESS RELEASE : Gordon Brown – “More terrorist assets are to be frozen” [November 2001]

The press release issued by HM Treasury on 8 November 2001.

The fight against the financing of terrorism continued as the UK, in coordination with international partners, circulated a list of 46 organisations and 16 individuals to financial institutions requiring that assets belonging to them be frozen.

Chancellor Gordon Brown also announced that a further £7 million of suspected terrorist assets had been frozen in the UK in the last week. The total amount of assets frozen in the UK now stands at £70 million in 38 accounts.

The individuals and organisations named on today’s list are believed to have committed or pose a significant risk of committing or providing material support for acts of terrorism.

Gordon Brown said:

“The ready supply of finance is the lifeblood of modern terrorism. The £7 million of terrorist assets frozen last week is evidence that the work we are urgently pursuing to stop the financing of terrorism is hitting terrorists where it hurts. If any of those named today hold assets in the UK they will be frozen immediately.

This list is a result of further intelligence sharing and coordination between the UK, US other international allies.  It follows other recent initiatives to destroy and disrupt the financing of terrorism, including the Financial Action Task Force’s Recommendations of last week. The UK will continue to work with our allies, and take a leading role internationally, in the fight against terrorism.

The UK’s domestic controls of terrorist financing are already among the best in the world, but we will do whatever is necessary to deprive terrorists of the funds they rely on. We will continue to strive to ensure that just as there is no safe haven for terrorists there is will be no safe hiding place for their funds.”