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No Money for Terror Conference 2022

Context:

Recently, third ‘No Money for Terror’ (NMFT) Ministerial Conference on Counter-Terrorism Financing was held in New Delhi, India.

  • The Prime Minister of India has strongly asked for avoiding any ambiguity in dealing with terrorism and also warned against nations that use terrorism as a tool of foreign policy.

Relevance:

GS II: Government policies and Interventions

Dimensions of the Article:

  1. About ‘No Money for Terror’ Conference
  2. Objectives of the event
  3. Significance

About ‘No Money for Terror’ Conference

  • The “No Money for Terror” conference was started in 2018, as an initiative of the French government, to specifically focus on cooperation between countries to choke terror funding.
  • In 2019, the conference was held in Australia.
  • It will be held in Delhi after gap of two years due to the travel restrictions imposed due to the COVID-19 pandemic.

Objectives of the event

  • The event conveys India’s determination in its fight against terrorism as well as its support systems for achieving success against it.
  • It also intends to include discussions on technical, legal, regulatory and cooperation aspects of all facets of terrorism financing.
  • The involvement of a compliant State often exacerbates terrorism, especially its financing.
Significance:

It offered a unique platform for participating nations and organisations to deliberate on the effectiveness of the current international regime on Counter Terrorism Financing and the steps required to address emerging challenges.

Conference 2022:

  • It was attended by delegates from 72 countries and 15 international organisations.
  • During the Conference, deliberations were held in four sessions with focus on:
    • Global Trends in Terrorism and Terrorist Financing.
    • Use of Formal and Informal Channels of Funds for Terrorism.
    • Emerging Technologies and Terrorist Financing.
    • International Co-operation to Address Challenges in Combating Terrorist Financing.

-Source: The Hindu


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