Tag: No Money for terror

India will host the ‘No Money For Terror’ meet in 2020, thrives for global resolve against those who support or help generate finance for terror groups

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By SAT News Desk

MELBOURNE, 7 November: India today came down heavily on nations and organizations that have been extending support to and generate finances for terror groups. Without naming Pakistan, India said it itself is a victim of cross-border terrorism and that’s why it has been advocating zero-tolerance towards terrorism.NDTV adds: India will host the next edition of the ”No Money For Terror” conference to be held in 2020, Union Minister G Kishan Reddy made the announcement at the ”No Money For Terror” conference here.

These views came from India’s Union Minister of State for Home Affairs Mr. G. Kishan Reddy, who was addressing the conference ” No Money for terror” and during an intervention where the discussion point was – A reassessment of the evolving global and regional terrorism threat environment and financing methods, including the exploitation of emerging technologies and not-for-profit organizations.

He said, “India has been steadfastly expressing its concern over the tacit support some nations/organizations have been extending to the terror groups and called for a united global fight against all those who support terror or help terrorists generate finances for their nefarious objectives. Being a victim of cross-border terrorism in particular, India has been advocating zero-tolerance towards terrorism.

As all of us are aware, the UN Security Council in March 2019 adopted a resolution 2462-l calling upon all UN members to prevent and suppress the financing of terrorist acts and refrain from providing security to those involved with them. However, it is a matter of great concern for all of us that despite our collective intent, there have been obvious lacunae in terms of conscientiously implementing the resolutions adopted by the UNSC by certain member nations. It is, in this context, the present conference on ‘No Money for terror’ assumes significance, in terms of renewing our collective resolve.”

The Minister proposed the Conference should also make the following resolve:

- Terrorism is the single biggest threat not only to international peace and security but also to development;
- Countering terrorism and terrorism financing requires strong collective action by the global community. There is a need for increasing the effectiveness of the UNSCR 1267 regime. A strong legal framework also needs to be established in order to address this problem. In this context, nations must urgently consider expediting finalization of a Comprehensive Convention on International Terrorism under the UN umbrella mooted by India as early as 1996;

- FATF has laid down effective anti-money laundering and counter financing of terrorism
standards and procedures. However, these mechanisms need to be effectively enforced.
There is a need to avoid politicization of mechanisms like UN listings and FATF and

- Initiate discussion on Countering Financing of Radicalisation (CFR), which would prevent
radicalization – an essential prerequisite for terrorism.

Australia’s Minister for Home Affairs Hon. Peter Dutton MP opened the “No Money for Terror” international conference in Melbourne today. 67 countries, including India, are part of the conference. Twenty Ministers from across the globe are attending the two-day event which will end on 8 November 2019.