Rajesh Parihar speaking at the United Nations Security Council meeting on terrorist financing. (Represent)
New York:
Emphasizing that the continued expansion of terrorist groups is a challenge for everyone, India at the meeting of the United Nations Security Council (UNSC) asked the international community to call on the nations. intentionally provide financial support and safe haven to terrorists and hold them accountable.
Rajesh Parihar, First Secretary, Permanent Mission of India to the United Nations, said: “India is committed to supporting and enhancing UN efforts to assist Member States that lack the capacity to combat funding for Terrorism (CFT) by providing financial support”.
Speaking at the special joint UNSC meeting on Terrorist Financing Trends and Threats and the Implementation of Security Council Resolution 2462, he added: “The continued expansion of terrorist groups is a reality check for all of us that despite Security Council resolution 2462 to Combat the Financing of Terrorism (CFT), implementation by Member States remains challenging. for reasons including a lack of political will.”
Mr. Parihar also emphasized that the recent trend of new financial methods and payment technologies has allowed terrorist groups to exploit them to collect and transfer money.
“The misuse of blockchain technology, virtual/cryptocurrency, digital community sourcing, prepaid phone cards, etc. has posed new risks to CFT efforts. The rise of institutions Fake charities and fake non-profit organizations (NPOs) during the Covid pandemic have exacerbated this risk.” he say.
“The global implementation survey of resolution 1373, adopted by the CTC on 4 November and the latest report by the Financial Action Task Force (FATF) (October 2021) on ‘Agencies’) jurisdictions have increased oversight,” underscoring the continued risk of financial terrorism due to lack of action by a country in our immediate vicinity,” he added.
Emphasizing that India is steadfast in its commitment to the CFT and has developed over the past few decades the necessary capabilities, regulatory, institutional, and best practices frameworks for the CFT, he said that India has taken steps to bring its financial sectors to international standards, including those of the FATF.
“An effective multilateral approach to the CFT, built on top of the PPP to identify and mitigate new terrorism financing risks, strengthens support for financial watchdogs such as the FATF to ensure that member states bring their reciprocal structures up to par with today’s international standards,” added Mr Parihar.
