No Money for Terror(NMFT) Conference: Impose cost on nations which back terror: PM targets Pakistan, China at NMFT meet

Source: The post is based on the article “Impose cost on nations which back terror: PM targets Pakistan, China at NMFT meet” published in Indian Express on 20th November 2022.

What is the News?

The third ‘No Money for Terror'(NMFT) Ministerial Conference on Counter-Terrorism Financing was held in New Delhi, India.

What is the No Money for Terror(NMFT) Ministerial Conference? 

The “No Money for Terror” conference was started in 2018, as an initiative of the French government, to specifically focus on cooperation between countries to choke terror funding.

Aim: To provide a unique platform for participating nations and organisations to deliberate on the effectiveness of the current international regime on Counterterrorism Financing and the steps required to address emerging challenges.

In 2019, the conference was held in Australia.

What is the aim of the third ‘’No Money for Terror'(NMFT) Ministerial Conference?

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What are the key highlights from India’s address to the third NMFT Conference?

On Afghanistan: India has urged the international community to take cognisance of threats emerging from regime change in Afghanistan, as the last one had led to the 9/11 attacks.

On Terrorism: India stressed that the international community should never ignore terrorists’ safe havens or their resources. It is important to expose the double-speak of such elements who sponsor and support them.

– India has called for a need of international watchdog on terror financing and money laundering to continuously monitor the tendencies of some countries to sponsor terrorism.

On modes of Terrorism financing: Terrorists and terrorist groups understand the nuances of modern weapons and information technology such as the Dark Net and Cryptocurrency very well.

– This transformation of terrorism from dynamite to metaverse and AK-47 to virtual assets is definitely a matter of concern for the countries.

– Hence, each country can and must act against the part of the chain within reach.

Countries supporting Terrorism: Certain countries support terrorism as part of their foreign policy. They offer political, ideological and financial support to them.

– There must be a cost imposed upon countries that support terrorism. Organisations and individuals that try to create sympathy for terrorists must also be isolated.

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