Other Statements Other Statements

The 2nd Counter-Terrorism Week

High-Level Side Event: Countering Financing of Terrorism in the Post Covid-19 Landscape

[25 June 2021]

 

Opening Remarks by

Ambassador T.S. Tirumurti,

Permanent Representative of India to the United Nations

-----

I am delighted to co-host this event along with the Permanent Mission of France, UN Office of Drugs and Crime, UN Office of Counter-Terrorism and the Security Council Counter-Terrorism Committee Executive Directorate.

2. I particularly thank my colleague and friend Ambassador Nicholas de Riviere, Permanent Representative of France for this initiative.  I also welcome USG Vladimir Voronkov, USG Ghada Fathi Waly and ASG Michelle Coninsx.  I would also like to welcome the Representatives of various organizations for the technical session, including from the National Investigation Agency of India.  India has been a victim of terrorism, particularly cross-border terrorism, over the last several decades.  We have now developed the necessary capabilities to counter terrorism, including legal and institutional framework and technical capability to combat terrorism in its various forms and manifestations, particularly countering financing of terrorism.

3. India follows international standards for assessment of risk posed by terrorism to its financial sector and undertakes preventive and mitigation measures. India is a member of the Financial Action Task Force (FATF) since 2010. In line with recommendation 1 of the FATF, National Risk Assessment (NRA) related to terror financing are undertaken regularly to assess the emerging, and dynamic threats posed by terrorists, to identify methods and instruments used by terrorists or terrorist groups in order to attract, move or use funds for criminal purposes. India has performed National Risk Assessments in 2019 & 2020, has made tremendous progress in implementing the recommendations of FATF commensurate with its Money Laundering and terror-financing risks, and is gearing up for its upcoming evaluation of FATF.

4. Cash couriers has remained one of the major terror-financing methods to avoid audit trails. India has incorporated the role of cash couriers in its NRA. The Government’s steps towards lowering cash transactions through Banks are proving to be effective in containing cash flow through Banks. During investigation of cases of terror funding, earnest efforts are made to unearth the trail of funds and disrupt the entire network so as to give a severe blow to the terrorists and terrorist organizations.

5. The pandemic has also brought forth new risks to the efforts of countering financing of terrorism (CFT). In particular, fake charities, fake Non-Profit Organizations (NPOs), and crowdfunding have become more frequent sources of terror-financing. Terrorist organizations have also begun to exploit the anonymity afforded by block chain technology for fundraising and finances. As part of the NRA, an NPO Risk Assessment in 2020 and 2021 was also conducted. Identifying linkages between various individuals, NPOs and terrorist outfits active in the region have been given due weightage.

6. While we remain vigilant to risk posed by misuse of emerging technologies for terrorist purposes, the benefits of many of these technologies far outweigh the risk and need to be harnessed to strengthen our CFT efforts. India is in process of upgrading its Financial Intelligence Network or FINNET by introducing machine learning or artificial intelligence, chatbots, virtual assistants, natural language processing, locational intelligence and spatial analytics, orchestration and threat intelligence, to perform advanced analysis, strengthen the financial intelligence infrastructure and ensure quicker dissemination of terror-financing cases to law enforcement agencies (LEAs).

7. India has been contributing proactively to further international co-operation to combat financing of terrorism at regional and international level. In 2018, India contributed $550,000 to the UNOCT’s programmes targeting capacity building of countries in East and Southern Africa. This year too, we have contributed half a million dollars to further strengthen these efforts.

8. Preventing terrorists from accessing financial resources is crucial to successfully countering the threat of terrorism. While some states lack the legal-operational frameworks and necessary CFT capacities, there are other States that are clearly guilty of aiding and supporting terrorism, and wilfully providing financial assistance and safe havens to terrorists. While we must enhance capacities of the former, the international community must collectively call out the latter and hold them accountable.

9. Before I conclude, I would like to emphasize the need for international collaboration to counter financing of terrorism, support and strengthen FATF, and provide greater funding to UN Counter Terrorism architecture.

I thank you.