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12-06-2022     3 رجب 1440

Choking of Finances to Terror Outfits

Terrorism has become a global problem and as such it needs the concerted and coordinated efforts of the world community to fight terrorism as without the cooperation of the world the terrorism cannot be wiped from the globe

November 22, 2022 | Omkar Dattatray

Money makes mare go is an old adage and it has got universal applicability. It applies to the funding and finances to terrorist outfits. It is common knowledge that money is indispensible for all activities and endeavors and as such terrorism, radicalism, extremism and fundamentalism cannot sustain and grow without finances. Thus it is in the fitness of things to chock the finances to terrorist organizations so that the war against terrorism is fought and this scourge is shown the door. The other day Prime Minister Modi as well as the home minister Amit Shah has underscored the need and necessity of chocking the pipelines of finances to terror organizations so that the fight against terrorism can be taken to logical conclusion. There is no denying the fact that it is money and money alone which sustains terrorism in the world and keeps it going and therefore the governments of the globe should choke the finances to terror outfits so that war against terrorism is won because without stopping the flow of funds the giant of terrorism cannot be tamed and controlled. Therefore choking funds pipeline is key to beating terror. Gaps in global regulatory framework have created huge vulnerabilities for terrorists and criminals to exploit and abuse.
Terrorism has become a global problem and as such it needs the concerted and coordinated efforts of the world community to fight terrorism as without the cooperation of the world the terrorism cannot be wiped from the globe. It is as such necessary and imperative that the international community should cooperate to choke the finances and money to terror outfits so that terrorism is curbed and does not raise its ugly head. The deadly 9/11 terrorist attacks in the united states triggered a global war on funds to terrorist organizations ,with governments across the world trying to grapple with one of the toughest challenges to peace and security.20 years on ,efforts continue as there is recognition that choking the funds flow linked to terrorism is one of the most effective ways to deal with this scourge and prevent future terrorist attacks.
There is great importance of combating terrorist financing. Everyone knows that terrorists need money and other assets, for weapons but also tranning, travel and accommodation to plan and execute their attacks and develop an organization. Disrupting and preventing these terrorism related financial flows and transactions is one of the effective ways to fight terrorism. Not only can it prevent future attacks by disrupting their material support ,the footprint of their purchases, withdrawals and other financial transactions can provide valuable information for ongoing investigations. The need and importance for blocking finances to terrorist organizations has been outlined and emphasized by the prime minister and the home minster the other day while addressing the conference on no money for terrorists held in Delhi. Thus countering terrorism financing is therefore an essential part of global fight against terror threat. As the terrorists and terror groups continue to raise money with the use of various means ,countries must make it a priority to understand the risks they face from terrorist financing and develop policy response to all aspects of it. Combating terrorist financing has been a priority for the FATA since 2001.
However, in 2015,the scope and nature of thev terrorist threats globally intensified considerably ,with the terrorist attacks in many cities across the world, and the terrorist threat posed by the so called Islamic State of Iraq and Levant (ISIL/D ‘aesh) and by Al Qaeda and their affiliated terrorist organizations. Funds flow cross border to providing resources for nationally designated organizations and many jurisdictions continue to suffer from persistent attacks from small cells and radicalized lone actors, drawing inspiration from range of dangerous ideologies. The FATA plays a central role in global efforts in combating terrorist financing ,through its role in setting global standards to combat terrorist financing ,assisting jurisdictions in implementing financial provisions of UNSC Resolutions on terrorism and evaluating countries ability to prevent ,detect, investigate and prosecute the financing of terrorism.
Yet many countries have not yet implemented the FATA standards effectively. They do not understand the nature of financial risks they face ,nor have effective means to combat terror.PM attends third No Money for Terror Ministerial Conference on Counter – Terrorism Financing in New Delhi. PM said ,’’We consider that even a single attack is one too much. Even a single life lost is one too many. So we will not rest till terrorism is uprooted.’’ He further said that there is no good and bad terrorism. It is an attack on humanity, freedom and civilization. It knows no boundaries. He said there must be a cost imposed upon the countries that support terrorism. He went on to say that only a uniform, unified and zero tolerance approach can defeat terrorism. There is also a need for a uniform understanding of the new finance technologies. Anyone who supports radicalism should have no place in any country. The PM Narendra Modi , has strongly asked for avoiding any ambiguity in dealing with terrorism and also warned against nations that use terrorism as a tool of foreign policy, He said this while addressing the third NMFT ministerial conference on counter terrorism financi8ng in Delhi recently.
Welcoming the gathering the PM marked the significance of the conference taking place in India and recalled when the nation saw the dark face of terror long before the world took serious note of it.PM said over the decades terrorism in different names and forms hurt India. He went on to say that even thousands of precious lives were lost, India fought terrorism bravely. He pointed out that it is all the more important to strike the financial roots of terrorism. Throwing light on difference between fighting a terrorist and terrorism, the PM remarked that a terrorist may be neutralized with weapons and immediate tactical responses but these tactical gains may be lost soon without a larger strategy aimed at hurting their finances. The PM emphasized that we must pursue terrorists, break their support networks and hit their finances for our citizen’s safety. The PM highlighted state support as one of the major source of political, ideological and financial support to terrorism. He asked the international community to be vigilant about proxy wars. He underlined the need to impose the cost on the countries supporting terrorism. He said the world needs to unite against all kinds of overt and covert backing of terror.
Organized crime and trafficking of drugs is another means of financing terror and so the world must root out these anti social activities and crimes. Highlighting the complex environment ,the PM stressed that UNSC, FATF, FIU and the Egmont Group ,are boosting cooperation in the prevention, detection and prosecution of illegal fund flow .The home minister Amit Shah has said that strict economic crackdown on terror heaven countries whose governments have made terrorism a state policy. should be launched to combat terrorism. .The threadbare discussions and deliberations were held on the need to break and choke the finances of the terrorist network for a decisive fight against terrorism. To conclude it can be said with certainty that unless and until the financial support to terrorism is not choked, we will not be able to root out terrorism from the globe. Therefore snipping and blocking finances to terrorist organizations is necessary.


Email:-----------------omkardattatray59@gmail.com

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Choking of Finances to Terror Outfits

Terrorism has become a global problem and as such it needs the concerted and coordinated efforts of the world community to fight terrorism as without the cooperation of the world the terrorism cannot be wiped from the globe

November 22, 2022 | Omkar Dattatray

Money makes mare go is an old adage and it has got universal applicability. It applies to the funding and finances to terrorist outfits. It is common knowledge that money is indispensible for all activities and endeavors and as such terrorism, radicalism, extremism and fundamentalism cannot sustain and grow without finances. Thus it is in the fitness of things to chock the finances to terrorist organizations so that the war against terrorism is fought and this scourge is shown the door. The other day Prime Minister Modi as well as the home minister Amit Shah has underscored the need and necessity of chocking the pipelines of finances to terror organizations so that the fight against terrorism can be taken to logical conclusion. There is no denying the fact that it is money and money alone which sustains terrorism in the world and keeps it going and therefore the governments of the globe should choke the finances to terror outfits so that war against terrorism is won because without stopping the flow of funds the giant of terrorism cannot be tamed and controlled. Therefore choking funds pipeline is key to beating terror. Gaps in global regulatory framework have created huge vulnerabilities for terrorists and criminals to exploit and abuse.
Terrorism has become a global problem and as such it needs the concerted and coordinated efforts of the world community to fight terrorism as without the cooperation of the world the terrorism cannot be wiped from the globe. It is as such necessary and imperative that the international community should cooperate to choke the finances and money to terror outfits so that terrorism is curbed and does not raise its ugly head. The deadly 9/11 terrorist attacks in the united states triggered a global war on funds to terrorist organizations ,with governments across the world trying to grapple with one of the toughest challenges to peace and security.20 years on ,efforts continue as there is recognition that choking the funds flow linked to terrorism is one of the most effective ways to deal with this scourge and prevent future terrorist attacks.
There is great importance of combating terrorist financing. Everyone knows that terrorists need money and other assets, for weapons but also tranning, travel and accommodation to plan and execute their attacks and develop an organization. Disrupting and preventing these terrorism related financial flows and transactions is one of the effective ways to fight terrorism. Not only can it prevent future attacks by disrupting their material support ,the footprint of their purchases, withdrawals and other financial transactions can provide valuable information for ongoing investigations. The need and importance for blocking finances to terrorist organizations has been outlined and emphasized by the prime minister and the home minster the other day while addressing the conference on no money for terrorists held in Delhi. Thus countering terrorism financing is therefore an essential part of global fight against terror threat. As the terrorists and terror groups continue to raise money with the use of various means ,countries must make it a priority to understand the risks they face from terrorist financing and develop policy response to all aspects of it. Combating terrorist financing has been a priority for the FATA since 2001.
However, in 2015,the scope and nature of thev terrorist threats globally intensified considerably ,with the terrorist attacks in many cities across the world, and the terrorist threat posed by the so called Islamic State of Iraq and Levant (ISIL/D ‘aesh) and by Al Qaeda and their affiliated terrorist organizations. Funds flow cross border to providing resources for nationally designated organizations and many jurisdictions continue to suffer from persistent attacks from small cells and radicalized lone actors, drawing inspiration from range of dangerous ideologies. The FATA plays a central role in global efforts in combating terrorist financing ,through its role in setting global standards to combat terrorist financing ,assisting jurisdictions in implementing financial provisions of UNSC Resolutions on terrorism and evaluating countries ability to prevent ,detect, investigate and prosecute the financing of terrorism.
Yet many countries have not yet implemented the FATA standards effectively. They do not understand the nature of financial risks they face ,nor have effective means to combat terror.PM attends third No Money for Terror Ministerial Conference on Counter – Terrorism Financing in New Delhi. PM said ,’’We consider that even a single attack is one too much. Even a single life lost is one too many. So we will not rest till terrorism is uprooted.’’ He further said that there is no good and bad terrorism. It is an attack on humanity, freedom and civilization. It knows no boundaries. He said there must be a cost imposed upon the countries that support terrorism. He went on to say that only a uniform, unified and zero tolerance approach can defeat terrorism. There is also a need for a uniform understanding of the new finance technologies. Anyone who supports radicalism should have no place in any country. The PM Narendra Modi , has strongly asked for avoiding any ambiguity in dealing with terrorism and also warned against nations that use terrorism as a tool of foreign policy, He said this while addressing the third NMFT ministerial conference on counter terrorism financi8ng in Delhi recently.
Welcoming the gathering the PM marked the significance of the conference taking place in India and recalled when the nation saw the dark face of terror long before the world took serious note of it.PM said over the decades terrorism in different names and forms hurt India. He went on to say that even thousands of precious lives were lost, India fought terrorism bravely. He pointed out that it is all the more important to strike the financial roots of terrorism. Throwing light on difference between fighting a terrorist and terrorism, the PM remarked that a terrorist may be neutralized with weapons and immediate tactical responses but these tactical gains may be lost soon without a larger strategy aimed at hurting their finances. The PM emphasized that we must pursue terrorists, break their support networks and hit their finances for our citizen’s safety. The PM highlighted state support as one of the major source of political, ideological and financial support to terrorism. He asked the international community to be vigilant about proxy wars. He underlined the need to impose the cost on the countries supporting terrorism. He said the world needs to unite against all kinds of overt and covert backing of terror.
Organized crime and trafficking of drugs is another means of financing terror and so the world must root out these anti social activities and crimes. Highlighting the complex environment ,the PM stressed that UNSC, FATF, FIU and the Egmont Group ,are boosting cooperation in the prevention, detection and prosecution of illegal fund flow .The home minister Amit Shah has said that strict economic crackdown on terror heaven countries whose governments have made terrorism a state policy. should be launched to combat terrorism. .The threadbare discussions and deliberations were held on the need to break and choke the finances of the terrorist network for a decisive fight against terrorism. To conclude it can be said with certainty that unless and until the financial support to terrorism is not choked, we will not be able to root out terrorism from the globe. Therefore snipping and blocking finances to terrorist organizations is necessary.


Email:-----------------omkardattatray59@gmail.com


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Owner, Printer, Publisher, Editor: Farooq Ahmad Wani
Legal Advisor: M.J. Hubi
Printed at: Abid Enterprizes, Zainkote Srinagar
Published from: Gulshanabad Chraresharief Budgam
RNI No.: JKENG/2010/33802
Office No’s: 0194-2451076, 9622924716 , 9419400056
Postal Regd No: SK/135/2010-2019
Administrative Office: Abi Guzer Srinagar

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