Terrorism-serious threat to global peace n' security: Shah
Srinagar, Nov 18: Union Home Minister Amit Shah chaired the first session of third ‘No Money for Terror'
ministerial conference in New Delhi, in which he termed the terrorism as the “most serious threat to global
peace and security”.
“Terrorism is undoubtedly, the most serious threat to global peace and security. But I believe that the terror
financing is more dangerous than terrorism itself, because the ‘Means and Methods' of terrorism are nurtured
from such funding,” said Shah, as per a statement.
Shah said that the international community has a collective approach that terrorism must be condemned in all
its forms, but, the forms and manifestations of terrorism are continuously evolving due to technological
revolution.
He said that today, terrorists and terrorist groups understand the nuances of modern weapons & information
technology, and the dynamics of the cyber & financial space very well, and use them.
Shah said that this transformation of terrorism from “Dynamite to Metaverse” and “AK-47 to Virtual Assets” is
definitely a matter of concern for the countries of the world, and, we all have to work together to formulate a
common strategy against it. Shah added that we also recognize that the threat of terrorism cannot and should
not be linked to any religion, nationality, or group.
Union Home Minister said that unfortunately, there are countries that seek to undermine, or even hinder, our
collective resolve to fight terrorism. He said that we have seen that some countries protect and shelter
terrorists, protecting a terrorist is equivalent to promoting terrorism.
He said that It will be our collective responsibility that such elements never succeed in their intentions. Shah
said that after August, 2021, the situation in South Asian region has changed and the regime change and the
growing influence of Al Qaeda & ISIS have emerged as a significant challenge to regional security.
He stated that these new equations have made the problem of terror financing more serious.
Shah said that three decades ago, the whole world has had to bear the serious consequences of one such
regime change, the result of which we all have seen in the horrific attack of 9/11. He said that in this
background, last year's changes in the South Asian region are a matter of concern for all of us. He added that
along with Al Qaeda, organizations in South Asia like Lashkar-e-Taiba and Jaish-e-Mohammed continue to
spread terror.
To achieve the goal of “No Money for Terror”, the global community must understand the “Mode – Medium –
Method” of Terror Financing and adopt the principle of ‘One Mind, One Approach' in cracking down on them,
said Shah.
He said that to confront terrorism, we have made significant progress in fortifying the security architecture, as
well as the legal and financial systems. He stated that in spite of this, terrorists are constantly finding new ways
to carry out violence, radicalize youth and raise financial resources. Shah maintained that the ‘Dark Net' is
being used by terrorists to spread radical content and conceal their identities. Additionally, there is an increase
in the use of virtual assets like cryptocurrency. He said that we need to understand the patterns of these Dark
Net activities and find their solutions.
Shah said the emerging trends of the illegal trade of narcotics, and the challenge of narco-terror, have given a
new dimension to terror financing. In view of this, there is a need for close cooperation among all nations, he
added.
Shah said that we should never ignore terrorists' safe havens or their resources. He said that we also have to
expose the double-speak of such elements who sponsor and support them, and therefore, it is important that
this Conference, the participating countries, and the organizations, should not take a selective, or complacent
perspective of the challenges of this region.
Union Home Minister said that the problem of financing of terrorism has become widespread. He said that in
the last few years, India has succeeded in cracking down on terror financing. India's strategy against the
financing of terrorism is based on these six pillars:
1. Strengthening the Legislative and Technological Framework
2. Creation of a Comprehensive Monitoring Framework
3. Actionable intelligence sharing mechanism and strengthening of the investigation and police
operations
4. Provision for confiscation of property
5. Prevent misuse of legal entities and new technologies, and,
6. Establishing international cooperation and coordination
Shah said that in this direction, India has strengthened the fight against terrorism and its financing, with the
amendment of the Unlawful Activities Prevention Act (UAPA), strengthening the National Investigation Agency
(NIA), and giving a new direction to financial intelligence. He stated that it is the result of our continuous efforts
that terrorist incidents in India have come down drastically, which in turn, has also resulted in a drastic
reduction in the economic losses caused by terrorism.
Union Home Minister said that India believes that the most effective strategy to deal with terrorism is
International coordination and real-time and transparent cooperation among nations. He opined that
cooperation among countries in areas such as extradition, prosecution, intelligence sharing, capacity building
and “Combating the Financing of Terrorism (CFT)”, is important in the fight against terrorism. Shri Shah said
that our mutual cooperation becomes even more important given that terrorists and terrorist groups easily
coordinate and conjoin their resources across borders.
Shah said that the emerging trends of the illegal trade of narcotics, and the challenge of narco-terror, have
given a new dimension to terror financing. He said that in view of this, there is a need for close cooperation
among all nations. Shri Shah said that multilateral institutions such as the United Nations and the presence of
platforms such as the Financial Action Task Force (FATF) are most effective in terms of preventing terrorism in
the field of “Combating the Financing of Terrorism (CFT)”. He said that FATF is playing an important role in
setting and implementing global standards to prevent and combat, money laundering and terrorist financing.
Union Home Minister said that we have a new challenge in the form of Virtual Assets before us as new
methods of virtual assets are being used by terrorists for financial transactions. He said that to crack down on
the use of virtual asset channels, funding infrastructure and Dark Net, we need to work coherently towards
developing a “robust and efficient operational system”. Shri Shah said that the United Nations, IMF, Interpol
and other stakeholders such as Law enforcement agencies, financial investigators, and regulators of various
countries can have a more positive impact in this regard. He said that we must understand these challenges in-
depth and make efforts globally to curb the new techniques of terror financing, as was done in the recently
concluded Interpol General Assembly in New Delhi.
Shah said that India remains committed to all efforts to combat terrorism, by sharing intelligence, capacity
building for effective border control, preventing misuse of modern technologies, monitoring and preventing illicit
financial flows, and cooperating in investigative and judicial processes. He said that to achieve the goal of “No
Money for Terror”, the global community must understand the “Mode – Medium – Method" of Terror Financing
and adopt the principle of 'One Mind, One Approach' in cracking down on them.
Union Home Minister said that we have started this conference today with the address of the Prime Minister of
India Narendra Modi and in these two days there will be a meaningful discussion on various dimensions of
Terror Financing and meaningful solutions will be ideated for the present and future challenges. Shah said that
as the Home Minister of India, he assures the Conference that our commitment towards the objective of 'No
Money for Terror' is as strong as your enthusiasm to participate in this event!
