New Delhi, Feb 14 (UNI) Minister of State for Home Affairs Nityanand Rai expressed concerns about the growing cross-border connections in terror financing, noting that the flow of funds is becoming more complex.
He highlighted that with the advancement of new digital technologies, the methods, sources, and channels through which terrorists move assets are becoming more complex and posing a major challenge to global security, a Home Ministry statement said here on Friday.
The Minister was speaking at the 4th No Money for Terror (NMFT) Conference held in Munich, Germany, on Thursday.
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.
He 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 the NMFT Conference 2022 held in New Delhi.
Rai lauded the initiative of the NMFT Conference and expressed the need for permanency for this unique initiative by setting up an NMFT Secretariat in India, the idea of which was also mooted in the conference 2022 held in New Delhi, to sustain the continued global focus on countering the financing of terrorism.
Moreover, the minister also held bilateral meetings with dignitaries from Singapore and Turkey.
The conference had four sub-verticals i.e. multilateral cooperation, financing methods for terrorism, financial inclusion and risk-based approaches, and terrorist financing and organised crime.
