World News | New Digital Tech Making Terror Fund Flow Increasingly More Complex: Nityanand Rai
Get latest articles and stories on World at LatestLY. New digital technologies and channels used for 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.
Munich, Feb 14 (PTI) New digital technologies and channels used for 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 development of new digital technologies, the sources, methods and channels used for 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 of 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 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.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)