The FBI, U.S. Treasury and the Iraqi State Department are searching for more than $2 billion Saddam is believed to have hidden all over the world before his 2003 capture, the Observer reported Sunday. Hussein allegedly acquired the fortune from a secret oil-for-trade deal with Syria, as well as the sale of arms. The hunt for the funds has intensified following Hussein's execution by Iraqi authorities Saturday.

Barzan al-Tikriti, Saddam's half-brother who was captured shortly after the United States invaded Iraq, has already provided information regarding the location of funds, the report said. Officials want to get closer to Saddam's immediate family, believing that his two daughters can provide information on the money's whereabouts.

The money that has already been located was deposited in banks in Switzerland, Japan, Germany and other countries under the names of phony companies, the Observer reported.