In the later part of 2001 and early 2002 two separate cash seizures were made by the national terrorist financial investigation unit. These were £17,000 in 2001 and 105,000 deutschmarks in 2002. The later was converted to about £35,000. Both these seizures were made under the Terrorism Act 2000 and were subsequently forfeited. Upon being forfeited the funds were passed from the Metropolitan Police Service to HM Treasury.
Many terrorist groups on the list of proscribed organisations are based abroad but have used the UK for funding purposes. Proscribing such organisations and seizing their funds can severely limit their operations, as all aspects of terrorist activity cost money and such organisations are often dependent upon funds raised in foreign countries, including the UK. Operations involving the seizures of cash have a dual effect of both preventing terrorist attacks and disrupting the flow of terrorist funds.
The national terrorist financial investigation unit is the UK’s law enforcement agency responsible for the investigation of terrorist finance and therefore plays the leading role in identifying funds associated with terrorism. Such funds are liable to seizure and forfeiture as set out in various legislation, including the Terrorism Act 2000 and the Anti-Terrorism, Crime and Security Act 2001.