Strategy Of ‘Trace, Target & Terminate’ To Be Adopted For Every Level Of Economic Crime: Shah

Union Home Minister Amit Shah on Saturday stated that the strategy of ‘Trace, Target and Terminate’ will have to be adopted for every level of economic crime. He made his remarks during the concluding session of the third ‘No Money for Terror’ (NMFT) Ministerial Conference on Counter-Terrorism Financing, news agency ANI reported.

He stated that India has decided to develop national, global databases on crimes like terrorism, narcotics, and economic offenses, news agency PTI reported. 

According to PTI, the union minister also stated that India proposes to establish a permanent Secretariat for NMFT.

The two-day conference, held on November 18 and 19, provided a unique forum for participating states and organisations to discuss the effectiveness of the current international system on counter-terrorism finance and the steps needed to address rising issues, according to an official statement released by the Prime Minister’s Office (PMO) on Friday. 

“We have to fight the war against terrorism and terrorist groups, in every geographical space, in every virtual space,” said the home minister, PTI reported. 

He further added that every country must identify and combat organisations that influence youth radicalisation.

“No organisation or country can defeat terrorism alone, global community will have to move shoulder to shoulder to defeat it” Shah was quoted as saying by PTI. 

He also pointed out that some action had been taken against countries that had made terrorism a state policy.

ALSO READ: ‘No Money For Terror’ Aims To Broaden Base For Big Fight Against Terror Financing: EAM Jaishankar

The conference was built on the successes and lessons learned from the previous two conferences (held in Paris in April 2018 and Melbourne in November 2019), with the goal of improving global collaboration to deny terrorist access to funds and permissive countries, as per the statement issued by PMO. 

According to the statement, the event was attended by around 450 delegates from around the world, including ministers, heads of multilateral organizations, and heads of delegations of the Financial Action Task Force (FATF).

Deliberations were held in four sessions during the Conference, which will focus on ‘Global Trends in Terrorism and Terrorist Financing,’ ‘Use of Formal and Informal Channels of Funds for Terrorism,’ ‘Emerging Technologies and Terrorist Financing,’ and ‘International Cooperation to Address Challenges in Combating Terrorist Financing,’ the statement read. 

(With Inputs From Agencies)

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