Article Details

Terrorism financing: Dollars for Terror | Original Article

Gargi a Singh*, in Journal of Advances and Scholarly Researches in Allied Education | Multidisciplinary Academic Research

ABSTRACT:

Keywords in Paragraph The contemporary landscape of counterterrorism is intricately linked to the financial mechanisms that sustain terrorist activities. Central to these efforts is the global watchdog, the Financial Action Task Force (FATF), which plays a pivotal role in formulating strategies and frameworks to combat terrorism financing. This essay critically examines the multifaceted dimensions of terrorism financing, emphasizing the indispensable need for robust measures against money laundering. Specific attention is directed toward instances implicating Saudi Arabia, where accusations of supporting terrorism financially raise significant concerns. Efforts to counter terrorism extend beyond mere legal frameworks they require international collaboration, information sharing, and the establishment of safeguards to protect individual rights. The essay navigates through the challenges faced by financial institutions, often falling short of regulatory expectations despite substantial investments in anti-money laundering compliance. The covert support of terrorism by certain nations, exemplified by Saudi Arabia, prompts a reevaluation of the existing counterterrorism mechanisms. Addressing the root causes of terrorism necessitates a holistic approach, involving open dialogue, comprehension of diverse perspectives, and fostering peace and stability. The essay concludes by underlining the urgency of a comprehensive, transparent, and collaborative global effort to dismantle the financial structures that sustain terrorism. Only through such endeavors can we hope to mitigate the threat posed by terrorism and cultivate a safer, more secure world for future generations.