India raises concern on terror financing, points to cross-border linkages

Union Minister of State for Home Affairs, Nityanand Rai attended the fourth No Money for Terror (NMFT) Conference here. He headed the Indian Delegation at this event. The conference that took place on February 13 had four sub-verticals: Multilateral cooperation, Financing methods for terrorism, Financial inclusion & Risk-based approach and Terrorist Financing and Organised Crime. In his address, Rai raised concerns that terror financing increasingly has cross-border linkages in terms of flow of funds and due to the 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.
Rai said that unity amongst nations is essential in the fight against Terrorism, and under the leadership of Prime Minister Narendra Modi India stands steadfast with the global community in this fight against the scourge of Terrorism. Nityanand Rai expressed gratitude to the German Government for hosting the conference on the crucial issue of Countering terror financing and effective multilateral cooperation to develop a shared understanding of the risks and take forward the discussions from NMFT Conference 2022 held in New Delhi, the release stated. He lauded the initiative of NMFT Conference and expressed the need for permanency for this unique initiative of NMFT by setting up of a NMFT 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 the financing of Terrorism.