A Step into The Regulatory Unknown

FinCrime World Forum 2020: On-Demand Session

Almost two decades on from the al Qaeda terrorist attacks (9/11) the Financial War on Terrorism continues to gather pace following the introduction of a series of international counter-terrorism financing legislative provisions.

These mechanisms, especially the sanctions regime, have been able to limit the funding avenues of some terrorist groups, however the FATF stated that the funding requirements of foreign terrorist fighters presents an unprecedented threat because they only require modest amounts of funding.

The unprecedented expansion of cryptoassets and social media platforms as a terrorism funding model has resulted in several states suffering from an unprecedented and concentrated wave of international terrorism. Thus, the importance of an in-depth understanding of the working of this new model cannot be stressed enough.