The Prime Minister, Shri 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 was addressing the 3rd ‘No Money for Terror’ (NMFT) Ministerial Conference on Counter-Terrorism Financing in New Delhi on November 18.
- Throwing light on the difference between fighting a terrorist and fighting terrorism, the Prime Minister said that a terrorist may be neutralised with weapons and immediate tactical responses but these tactical gains will soon be lost without a larger strategy aimed at hurting their finances.
- The Prime Minister highlighted state support as one of the major sources of political, ideological and financial support to terrorism. Certain countries support terrorists as part of their foreign policy, he said.
- The PM also asked International organisations to be vigilant about proxy wars. Highlighting the complex environment, the Prime Minister stressed that the United Nations Security Council, Financial Action Task Force, Financial Intelligence Units, and the Egmont Group, are boosting cooperation in the prevention, detection and prosecution of illegal fund flow.
India’s strategy against the financing of terrorism is based on these six pillars:
Union Home Minister Shri Amit Shah said that the problem of financing of terrorism has become widespread. He said that in the last few years, India has succeeded in cracking down on terror financing. India’s strategy against the financing of terrorism is based on these six pillars:
- Strengthening the Legislative and Technological Framework
- Creation of a Comprehensive Monitoring Framework
- Actionable intelligence sharing mechanism and strengthening of the investigation and police operations
- Provision for confiscation of property
- Prevent misuse of legal entities and new technologies, and,
- Establishing international cooperation and coordination
No Money for Terror
- The two-day conference organised on 18th-19th November will offer a unique platform for participating nations and organisations to deliberate on the effectiveness of the current international regime on Counter Terrorism Financing and the steps required to address emerging challenges.
- The conference will build on gains and learnings of the previous two conferences (held in Paris in April 2018 and in Melbourne in November 2019) and will work towards enhancing global cooperation to deny finances to terrorists and access to permissive jurisdictions to operate.
- It will be attended by about 450 delegates from across the world, including Ministers, Heads of Multilateral organisations and Financial Action Task Force (FATF) Heads of Delegations.
