MUNICH, Feb 14: The increasing complexity of new digital technologies and channels utilized for funding by terrorists poses a considerable challenge to global security, stated Nityanand Rai, the Minister of State for Home Affairs.
While addressing the fourth No Money for Terror (NMFT) Conference in Munich on Thursday, Rai highlighted concerns regarding the cross-border linkages involved in terror financing, as revealed in an official statement.
He noted that the evolution of digital technologies and the various sources, methods, and channels used by terrorists for asset flow are growing increasingly intricate, greatly complicating the global security landscape.
The conference consisted of four key themes: multilateral cooperation, terrorism financing methods, financial inclusion alongside a risk-based approach, and the intersection of terrorist financing and organized crime, as noted in the official report.
Rai emphasized the importance of ensuring the “permanency of this unique initiative” by establishing an NMFT Secretariat in India, a proposal that was also discussed at the 2022 NMFT conference in New Delhi, thus maintaining international attention on counter-terrorism financing.
He further asserted that solidarity among nations is crucial in the battle against terrorism and that India, under Prime Minister Narendra Modi’s leadership, remains resolute in collaboration with the global community to combat this pervasive issue.
Additionally, Rai held bilateral discussions with officials from Singapore and Turkey, according to the statement. (PTI)
