Philippine extremists reaping millions from ransoms
Updated
A police anti-terrorism expert in the Philippines says the local extremist group, Abu Sayyaf, has amassed an estimated $US31 million from its criminal activities over the past 15 years.
Our reporter in the Philippines, Shirley Escalante, says police chief superintendent, Rodolfo Mendoza, has told a forum on terrorist financing that 97 percent of the money amassed by the Abu Sayyaf has come from ransoms paid for kidnapping.
The rest is from extortion and non-governmental organisations, used as fronts by international terror groups.
Singapore-based anti-terror experts have also told the forum that couriers, and not the banking system, move most of the money.
Meanwhile, police say the Abu Sayyaf, which is holding four locals hostage in southern Basilan province, has extended its deadline for the payment of a ransom.
The extremists are asking for $US22,000 to be paid by the end of the week.
