News network CNN has bagged a top honour at one of the most prestigious competitions in the American business news industry. The network claimed a Loeb Award in the TV category for Allan Dodds Frank, Lisa Slow and Jim McGinnis' entry The Money Trail, a series that examined terrorist financing.

In more than 20 televised segments, CNN's Allan Dodds Frank examined in detail terror mastermind Osama bin Laden's finances and the various methods the Al Qaeda network used to move money. Stories ranged from investigative pieces to breaking news. They covered Bin Laden's finances, the funding of the 11 September attackers, the underground currency transport network, better known as 'hawala' and the smuggling of precious gems. 

The Loeb Award is considered among the highest tributes in journalism and honours writers and reporters who illuminate the world of business and finance to readers around the world, says an official release.