PRELIMS SNIPPETS – November 21st 2022
No Money for Terror’ (NMFT)
Why in News?
- Third ‘No Money for Terror’ (NMFT) Ministerial Conference on Counter-Terrorism Financing was recently held in New Delhi, India.
- The Prime Minister of India has strongly asked for avoiding any ambiguity in dealing with terrorism and also warned against nations that use terrorism as a tool of foreign policy.
- 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.
- In 2019, the conference was held in Australia.
- It was to be held in India in 2020 but was postponed due to the Covid-19 pandemic.
- It offered a unique platform for participating nations and organisations to deliberate on the effectiveness of the current international regime on Counter Terrorism Financing and the steps required to address emerging challenges
- It was attended by delegates from 72 countries and 15 international organisations.
- During the Conference, deliberations were held in four sessions with focus on:
- Global Trends in Terrorism and Terrorist Financing.
- Use of Formal and Informal Channels of Funds for Terrorism.
- Emerging Technologies and Terrorist Financing.
- International Co-operation to Address Challenges in Combating Terrorist Financing.