Over the past 20 years, meanwhile, the International Monetary Fund has helped shape policies on anti-money laundering and combating the financing of terrorism (AML/CFT) globally and within its members' national frameworks. For many years, these organizations and other stakeholders have been working together to combat terrorism financing. Measures to combat terrorist financing need to be implemented in all jurisdictions around the world. It also lays out critical steps to execute the new strategy:– improve understanding of the threat of terrorist financing, in particular, the financing of ISIL;– ensure countries have up-to-date tools to identify and disrupt terrorist financing activity and use them effectively;– facilitate better and deeper international cooperation and information sharing between authorities and the private sector; and– identify and shut off any potential safe havens for terrorist financing. Combating terrorist financing has been a priority since 2001.

Source: Manila Times January 30, 2024 22:34 UTC