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In a two-day “No Money For Terror” event beginning Friday, India will utilise its security lens to show how it has been a victim of terror and the issues it has faced for decades.
This conference will be attended by representatives from 72 nations. Pakistan and Afghanistan have not been invited, but China has been invited.
“We have invited China,” Sanjay Verma, Secretary of the External Affairs Ministry. However, China’s approval is still pending.
“In all, 88 organisations are participating,” he said, according to NDTV, “including 15 multilateral organisations such as the FATF and Interpol.”
The ‘No Money for Terror’ conference will bring together approximately 200 representatives from anti-terrorism organisations from 75 countries, as per News18.
After two back-to-back conferences – Interpol and the UN Counter-Terrorism Conference – in Mumbai, this is the third in a series of conferences.
The ministry went on to say that because India has been subjected to various types of terrorism and its financing for more than three decades, it understands the anguish and grief suffered by other countries. In order to demonstrate solidarity with peace-loving nations and to help build a bridge for long-term cooperation on counter-terrorism financing, India hosted two global events in October: the annual General Assembly of Interpol in Delhi and a special session of the United Nations Counter-Terrorism Committee in Mumbai and Delhi.
The conference will be inaugurated by Prime Minister Narendra Modi, and participants will debate topics related to terrorism and terror finance.
The two-day conference will have four sessions, each chaired by a minister.
“Issues like cryptocurrency and crowdfunding are going to be discussed at length,” a senior official said, according to NDTV.
He stated that terrorism’s financial backbone must be broken.
“The funding of terrorist activities often requires funds to be moved within or across jurisdictions. This might be done through official channels of the financial system remittances, or through unregulated channels or use of cash couriers. The informal system remains a preferred channel for terrorist groups because of cost effectiveness, efficiency (speed of transfer), reliability, lack of customer identification checks, lack of transaction records and tax evasion,” he added.
“Misuse of social media for crowdfunding is common and there is consensus building among countries that it needs to be paid attention,” National Investigation Agecy chief Dinkar Gupta said.
Security services have provided comprehensive examples of how terror groups around the world are engaging in sectarian conflicts, which are increasingly predicated on ethnic-nationalist and sectarian lines.
“A substantial number of terrorist attacks continue to be perpetrated by local actors against local targets (state machinery) aimed at achieving local objectives, while certain global terrorist organisations have made a noticeable effort to perpetrate transnational attacks in the South Asian region,” a senior officer said.
(With inputs from NDTV, News18)
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