US Attorney General Michael Mukasey stated on Friday that sales of counterfeit goods and piracy are funding terrorist groups around the world.

From the AP:

Attorney General Michael Mukasey warned Friday that the huge profits generated from piracy and counterfeiting are increasingly flowing into the coffers of terrorist groups.

In remarks to Silicon Valley executives at the Tech Museum of Innovation, Mukasey said the economy and national security of the United States are increasingly threatened by violations involving copyrighted software code, patented inventions and trademarked properties.

Terror groups are taking their cues from organized crime and increasingly funding their operations from counterfeiting and piracy, he said.

Read the entire speech here.

The Counterfeit Goods and Piracy market is estimated at $529.79 billion.