Countering the financing of terrorism
Recent terrorist attacks, including in East Africa, clearly demonstrate that terrorist groups continue to generate funds for their activities through legal and illegal means. The nexus between organized crime and terrorist financing is a growing concern for many countries.
-- UN Office of Counter-Terrorism Under-Secretary-General Vladimir Voronkov in his statement at the High-level Side Event on Countering the Financing of Terrorism.
Suppressing all forms of terrorist financing
With the intensification of the terrorist threat over the recent years and the concurrent evolution of terrorist financing typologies, the UN Security Council has adopted additional resolutions, often under Chapter VII, to address new avenues of terrorist financing, including by targeting the nexus between terrorists and organized crime groups and tackling fundraising through kidnapping for ransom. In Resolution 2462 (2019), the Secuirty Council expressed concern at the flow of funds to terrorists and the need to suppress all forms of terrorist financing.
Countering the financing of terrorism programming
In response to 2462 (2019), the UN Office of Counter-Terrorism and its partners are strengthening their capacity to meet interested States’ requests for technical assistance in the area of countering terrorist financing. These include a broad range of pressing Countering the Financing of Terrorism (CFT) topics such as protecting the nonprofit organization sector, sharing financial intelligence, promoting public-private partnerships, conducting sectoral risk assessments, and other priority topics identified by the Financial Action Task Force (FATF) and FATF-style regional bodies.
The capacity of national authorities and relevant stakeholders to combat the financing of terrorism within their jurisdictions and regionally is especially important. This builds on its ongoing flagship capacity-building programme on Terrorist Designations and Asset Freezing that has, since March 2015 provided technical assistance and training to Member States (national regulatory agencies, financial intelligence units, relevant ministries and private sector institutions) and regional bodies on the effective implementation of targeted financial sanctions against terrorism and terrorism financing, as well as supported Member States and regional bodies in adopting mechanisms to safeguard their financial systems and address terrorism-financing techniques.