Munich: Digital technologies and channels used for the flow of funds by terrorists are becoming increasingly more complex posing a significant challenge to global security, Minister of State for Home Affairs Nityanand Rai said.
Addressing the fourth No Money for Terror (NMFT) Conference held here on Thursday, Rai expressed concerns that terror financing increasingly has cross-border linkages in terms of a flow of funds, an official statement said.
He said the development of new digital technologies, the sources, methods and channels used for the flow of assets by terrorists are becoming increasingly more complex and pose a significant challenge to global security.
The conference had four sub-verticals — multilateral cooperation, financing methods for terrorism, financial inclusion and risk-based approach and terrorist financing and organized crime, it said.
Rai underscored the need for “permanency for this unique initiative” of NMFT by setting up its Secretariat in India, the idea of which was also mooted in the NMFT conference 2022 held in New Delhi, to sustain the continued global focus on countering terror financing.
The minister said that unity amongst nations is essential in the fight against terrorism and India under Prime Minister Narendra Modi’s leadership stands steadfast with the global community in this fight against the scourge of terrorism.
Rai also held bilateral meetings with dignitaries from Singapore and Turkey, the statement said.
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