What Was Known Before 9/11?

EXPLORE THE RECORD · PATHWAY 1 OF 7

Before the attacks, U.S. agencies were tracking al-Qaeda, receiving aviation warnings, and holding information about two men who would later become hijackers.

The question is not whether warnings existed. It is what happened to the information.

Withheld Intelligence · Warnings · Financial Activity


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WITHHELD INTELLIGENCE

The Information That Wasn't Shared

CIA officers tracked Khalid al-Mihdhar and Nawaf al-Hazmi through the Kuala Lumpur meeting before the two men entered the United States. The CIA knew Mihdhar held a multiple-entry U.S. visa; in March 2000 it learned that Hazmi had flown to Los Angeles in January.

Two black-and-white headshot photos placed side by side, each showing a man facing the camera with a neutral expression. Text below identifies them as hazmi (Nawaf al Hazmi, left) and midhar (Khalid al Midhar, right).

Why did key U.S.-relevant information fail to reach the FBI investigators who could act on it?


WARNINGS AND FORESEEABILITY

What Was Known About the Threat?

U.S. agencies received multiple warnings about al-Qaeda and possible attacks inside the United States before September 11.

 

A declassified document titled “Bin Ladin Determined To Strike in US,” known as the August 2001 PDB, summarizes warnings about potential terrorist attacks by Bin Ladin.

How much was known before September 11?


FINANCIAL ACTIVITY

What Happened in the Markets?

Official investigators examined millions of securities transactions. Later statistical studies identified unusual trading patterns.

 

The first page of the research paper titled “Unusual Option Market Activity and the Terrorist Attacks of September 11, 2001” by Allen M. Poteshman introduces a comprehensive examination into whether unusual option market activity occurred in advance of the tragic events. The author provides an overview of empirical methods used to detect irregularities in trading patterns, specifically focusing on options markets in the period leading.

What did the trading activity actually show?

Five Key Moments Before 9/11

The record shows substantial warning and information-sharing failures—but not possession of the complete 9/11 operational plan.

JAN 2000
Future hijackers enter the intelligence record

CIA officers tracked Khalid al-Mihdhar and Nawaf al-Hazmi through the al-Qaeda meeting in Kuala Lumpur. In January the CIA knew Mihdhar held a multiple-entry U.S. visa; in March it learned that Hazmi had flown to Los Angeles in January. Key U.S.-relevant information was not contemporaneously passed to FBI Headquarters.

JAN 2000
Mihdhar and Hazmi enter the United States

Khalid al-Mihdhar and Nawaf al-Hazmi entered the United States together at Los Angeles on January 15, 2000. Information already held about them did not trigger a domestic search.

2000–2001
Opportunities to locate them were missed

As the two men lived openly in the United States, later intelligence leads and internal communications still failed to produce an effective effort to find them.

SUMMER 2001
Threat reporting surged

Intelligence reporting about an imminent al-Qaeda attack reached extraordinary levels, later described by senior officials as the system “blinking red.”

AUG 6, 2001
The President receives the PDB

The President’s Daily Brief, “Bin Ladin Determined to Strike in US,” warned that al-Qaeda had maintained a desire to conduct attacks inside the United States and referenced suspicious activity consistent with preparations for hijackings or other attacks.


WITHHELD INTELLIGENCE

The Mihdhar–Hazmi Intelligence Trail

Before September 11, the CIA possessed significant information about Khalid al-Mihdhar and Nawaf al-Hazmi. The DOJ Inspector General found that some information about the Malaysia meetings reached the FBI, but key U.S.-relevant pieces did not: Mihdhar’s U.S. visa information was not contemporaneously passed, and the CIA’s later discovery that Hazmi had flown to Los Angeles was not shared with the FBI.

One effort to formally transmit Mihdhar’s visa information became the Central Intelligence Report documented below.

Primary Record

The Mihdhar CIR Was Drafted, Held, and Never Sent

Draft
An FBI agent detailed to the CIA drafted a CIR for FBI Headquarters and the New York Field Office containing Mihdhar’s visa and New York destination.
Hold
A CIA desk officer entered the hold instruction at the direction of the Bin Laden Unit’s deputy chief.
Nondissemination
The report was not released and remained a draft into mid-February.

Source: DOJ Office of the Inspector General · Chapter Five · Special Report dated November 2004, publicly released June 2005

Read DOJ OIG Chapter Five →

The Justice Department inspector general found that the FBI agent had used the prescribed reporting process and that the information was in the appropriate format for passage to the FBI. Investigators found no documentary explanation for why the supervisory hold was imposed.

A report intended to carry the information to the FBI was drafted through the prescribed channel, explicitly placed on supervisory hold, and never sent.

The public record establishes the hold and nondissemination. It does not establish why the hold was imposed or whether anyone above the deputy-chief level approved it.

FIRSTHAND ACCOUNT

Richard Clarke: Why wasn’t the White House told?

Former White House counterterrorism coordinator Richard Clarke said the CIA withheld the Mihdhar–Hazmi information from him and the FBI.

Why it matters: Clarke was the official coordinating White House counterterrorism policy.

“White House Terror Chief Alleges CIA 9/11 Malfeasance…” · Colorado911Visibility.org · Aug. 11, 2011

EVIDENCE REVIEW

Who knew what — and when?

Kevin Fenton examines the chronology behind Clarke’s allegations and compares his account with the documented intelligence trail.

Why it matters: It tests the allegation against the timeline rather than treating one witness as definitive.

“Who Knew What When?” · Kevin Fenton · August 11, 2011

LATER INVESTIGATION · ARCHIVE

The dispute over “Who Is Rich Blee?”

This statement documents the controversy surrounding delayed publication of a film examining CIA officials involved in the pre-9/11 intelligence trail.

Why it matters: It preserves part of the later effort to identify decision points inside the CIA Counterterrorist Center.

Two CIA Employees at the Heart of a Notorious 9/11 Failure Likely Deduced · SecrecyKills.com ·Sep. 14, 2011


WARNINGS AND FORESEEABILITY

Warnings Before September 11

Before September 11, U.S. agencies received warnings involving al-Qaeda, hijackings, aviation threats, and possible attacks inside the United States.

These records do not show that officials possessed the specific 9/11 plot. They do show that aviation-based terrorism and a major al-Qaeda attack were already matters of official concern.

The specific September 11 plot was not predicted in full. But hijacking, aircraft-as-weapons scenarios, and a major al-Qaeda attack inside the United States were already within the range of official concern.

The warnings varied in specificity, reliability and distribution. Foreseeability is not the same as foreknowledge.

ARCHIVE REPORTING

How many hijacking warnings were there?

Government records documented repeated pre-9/11 intelligence reporting involving possible hijackings.

Why it matters: It tests the claim that hijacking threats were outside the range of official concern.

“9/11 Report Cites Many Warnings About Hijackings” · Eric Lichtblau, NY Times · Feb. 5, 2005

DOCUMENT CHECK

Had aircraft-as-weapons scenarios been considered?

Security planning before 9/11 included scenarios involving aircraft attacks on prominent targets.

Why it matters: It allows later claims about what was “unimaginable” to be compared with the historical record.

“Bush, Rice and the Genoa Warning: Documenting a demonstrable falsehood” · 911Truth.org Staff · May 22, 2004

AVIATION SECURITY

What did airport security know before 9/11?

Later reporting documented pre-9/11 security concerns involving suspected extremists, watchlists, and aviation systems.

Why it matters: It moves the issue from general warning to the question of operational prevention.

“Airport Security Ignored pre-911 Warnings on Hijackers” · Paul Sperry · Oct. 15, 2011


FINANCIAL ACTIVITY

Unusual Trading Before September 11

Unusually heavy put-option activity in United Airlines and American Airlines drew immediate investigative attention before and after the attacks.

The SEC’s May 2002 review was substantial. Investigators examined more than 9.5 million securities transactions involving 103 companies and 32 index or fund products, reviewed account records and interviewed traders. The SEC reported finding no trading based on advance knowledge of the attacks.

The underlying records also define an important boundary to that conclusion. The SEC reported that in some overseas cases it could not itself identify or interview the beneficial owners or decision makers and referred those matters to the Justice Department and FBI Financial Review Group. The public record reviewed here does not disclose the final account-level disposition of every one of those referrals.

A later SEC/OCC record also corrected a widely repeated figure concerning United Airlines put options traded on September 6. The earlier figure of 2,075 contracts included a canceled 500-contract sale; the corrected volume was 1,575. The frequently repeated claim that a single 2,000-contract purchase represented 96 percent of that day’s UAL put volume should therefore not be treated as settled.

The strongest public record now shows a substantial SEC review and documented FBI follow-up in which investigators reported no identified trading based on advance knowledge. It also shows limits in offshore-account follow-up and leaves some account-level dispositions outside the publicly inspectable record.

What remains unresolved: Statistical abnormality does not identify a trader, a source of information or a connection to the attacks. The remaining evidentiary question is narrower: whether the referred accounts and beneficial owners that cannot presently be traced through the public files were fully resolved in records that have not been released.

EVIDENCE REVIEW

What did investigators find — and not resolve?

911Truth.org compares the official investigation with later academic research, separating documented transactions from claims that remain unproven.

Why it matters: It shows where the official inquiry ended and where later statistical findings raised additional questions.

“Unusual Trading Before 9/11: What the Studies Found—and What Investigators Did Not Publicly Resolve” · 911Truth.org Staff · Aug. 3, 2026

ACADEMIC EVIDENCE

Did the trading patterns indicate informed trading?

Kevin Ryan reviews the academic research, including Allen Poteshman’s analysis of unusual pre-9/11 options activity.

Why it matters: The statistical studies test whether the observed trading departed significantly from normal market behavior.

“Evidence for Informed Trading on the Attacks of September 11” · Kevin Ryan · Nov 26, 2010

INVESTIGATIVE REPORTING

What did further investigation uncover?

Lars Schall examines the trading record, the financial institutions involved, and questions surrounding how the transactions were investigated.

Why it matters: It looks beyond the statistical anomaly to the institutions, accounts, and investigative trail behind the trades.

“Insider trading 9/11 … the facts laid bare” · Lars Schall · Mar 25, 2012

CONTINUE THE RECORD

What happened when the attacks began?

The warnings and intelligence record leads directly into the morning of September 11: how the four flights were recognized, how information moved through civilian and military channels, and how command authorities responded.

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