No Money for Terror Conference 2022 | 19 Nov 2022

Why in News?

Recently, third 'No Money for Terror' (NMFT) Ministerial Conference on Counter-Terrorism Financing was held in New Delhi, India.

• The Prime Minister of India 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.

What is No Money for Terror Conference?

• About:
  • The “No Money for Terror” conference was started in 2018, as an initiative of the French government, to specifically focus on cooperation between countries to choke terror funding.
    • In 2019, the conference was held in Australia.
    • It was to be held in India in 2020 but was postponed due to the Covid-19 pandemic.
• Significance:
  • It offered 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.
• Conference 2022:
  • It was attended by delegates from 72 countries and 15 international organisations.
  • During the Conference, deliberations were held in four sessions with focus on:
    • Global Trends in Terrorism and Terrorist Financing.
    • Use of Formal and Informal Channels of Funds for Terrorism.
    • Emerging Technologies and Terrorist Financing.
    • International Co-operation to Address Challenges in Combating Terrorist Financing.

What was India’s Stand at NMFT Conference 2022?

• Regime Change in Afghanistan:
  • India urged the international community to take cognisance of threats emerging from regime change in Afghanistan, as the last one had led to 9/11 attacks.
  • The regime changes and the growing influence of Al Qaeda & Islamic State of Iraq and Syria (ISIS) have emerged as a significant challenge to regional security.
• Stress on Terrorist's Safe Havens:
  • India stressed that the international community should never ignore terrorists’ safe havens or their resources.
  • It is important to expose the double-speak of such elements who sponsor and support them.
  • It is important that this conference, the participating countries, and the organisations, should not take a selective or complacent perspective of the challenges of this region.
• Threats from Emerging Technologies:
  • Terrorists and terrorist groups understand the nuances of modern weapons and information technology such as Dark Net and Cryptocurrency very well.
    • This transformation of terrorism from dynamite to metaverse and AK-47 to virtual assets is definitely a matter of concern for the countries.
    • The infrastructure used for cyber terrorism and online radicalisation is distributed.
      • Each country can and must act against the part of the chain within reach.
• Cost of Terrorism Supportive Countries:
  • Certain countries support terrorism as part of their foreign policy. They offer political, ideological and financial support to them.
  • There must be a cost imposed upon countries that support terrorism. Organisations and individuals that try to create sympathy for terrorists must also be isolated.
• Threats from Organised Crime:
  • Organised crime should not be seen in isolation and these gangs often have deep links with terrorist outfits.
  • The money made in gun-running, drugs and smuggling is pumped into terrorism.
  • Even activities like money laundering and financial crimes have been known to help terror funding.

What are the Initiatives to Counter Terrorism?

• National:
  • In January 2009, in the wake of the 26/11 terrorist attack, the National Investigation Agency was established to deal with terrorist crimes.
  • In India, the Unlawful Activities (Prevention) Amendment Act is the primary anti-terrorism law.
  • To gather information related to security, the National Intelligence Grid (NATGRID) has been established.
  • An operational hub has been created for the National Security Guard to ensure a rapid response to terrorist attacks.
• Global:
  • United Nations Office of Counter-Terrorism (UNOCT)
  • Terrorism Prevention Branch (TPB) of United Nations Office on Drugs and Crime (UNODC)
  • Financial Action Task Force (FATF)
  • India’s Annual Resolution on Counter-Terror

Source: IE