Better information-sharing between countries, law enforcement agencies, financial services companies and the tech industry will help combat financing for the Islamic State group and al-Qaida, a senior international official said Thursday. Daniel Lewis, executive secretary of the intergovernmental Financial Action Task Force said he is hoping for concrete action from an international conference on terror financing that brings together ministers from more than 70 countries in Paris — which still bears the scars of recent deadly terror attacks. Participants scheduled to take part in Thursday's international conference include countries that have accused each other of funding terrorism, notably in the Persian Gulf. Terror groups don't only rely on the cash economy — they're using increasingly using hard-to-track tools like prepaid cards, online wallets and crowdfunding operations, French officials say. Most of the attacks in Western countries do not cost a lot of money, but terror groups "behave like big organizations ...

Source: ABC News April 26, 2018 07:38 UTC