U.S. Has Lost Sight of Cash From $70 Billion Sent to Afghanistan: Inspector General

[tekisui]

Source: Stars & Stripes

It may come as little surprise that the U.S. cannot track all of the cash it has infused into Afghanistan after nearly 10 years of war and $70 billion in security and development projects. But a blistering audit released Wednesday found that untold amounts of American taxpayer dollars are vulnerable to winding up in the pockets of insurgents, and blames both countries for a dysfunctional tracking system.

How bad is it? Afghan President Hamid Karzai has barred U.S. government advisers from the Afghan central bank, according to Treasury officials who called the bank a “hostile” environment. Nobody is writing down the serial numbers of the cash flying through customs at Kabul International Airport. And the U.S. is having trouble identifying financial crimes because Afghan officials are reluctant to prosecute.

“U.S. agencies have limited visibility over U.S. cash that enters the Afghan economy -- leaving it vulnerable to fraud and diversion to the insurgency,” concluded the Office of Special Inspector General for Afghanistan Reconstruction, or SIGAR.

That assertion may not surprise reporters who have tracked wartime money. In Iraq, $6 billion held by U.S. banks went missing after it was returned to Iraq as pallets of cash.

more: http://www.stripes.com/blogs/stripes-central/stripes-central-1.8040/u-s-has-lost-sight-of-cash-from-70-billion-sent-to-afghanistan-inspector-general-1.149731

[no_hypocrisy]

1. The$79 billion should have been issued in debit cards, not palates of crisp $100 bills.

[Raven]

2. Interesting...this government seems to be able to keep a sharp

eye on my paltry SS check.

[paparush]

3. +100

Sickeningly true. Cargo planes of cash go missing (money laundered) in Iraq and Afghanistan, but a whole freaking cadre of accountants and adjusters are pouring over SS benefits.

[Blue_Tires]

4. It's not lost -- I'm pretty sure the Pentagon knows most of it was either

1. bribes and payoffs
2. stolen by people we know, but don't dare mention in public lest we lose their "loyalty"

Either way, I'm sure those teabag deficit hawks will get right on this...

[Botany]

5. Well good thing that we have some teachers and firemen ...

.... to lay off to help offset this shortfall.