From 4-5 June 2024, the Counter-Terrorism Committee Executive Directorate (CTED) joined the discussions of the Global Forum on Illicit Financial Flows and Sustainable Development. During the High-Level Panel “Stop the Threat: Current Approaches to Combating Terrorism Financing,” CTED briefed participants on the current priority gaps and good practices in implementing measures to counter the financing of terrorism. CTED also weighed in on challenges in the implementation of counter-terrorism financing (CFT) measures in relation to new payment technologies, and how CFT measures should be reflected in national comprehensive counter-terrorism strategies.
“An increasingly popular trend in terrorist financing is the mixed use of old and new ways to raise and move funds, which essentially combines the challenges and complexities related to each method – from detecting physical cross-border transportation of cash to tracing intricate virtual transactions. States should, therefore, take a comprehensive and risk-based approach to CFT, so that they do not neglect safeguards with regards to the methods and channels that are being exploited by terrorists” noted CTED’s CFT Coordinator, Ms. Svetlana Martynova.
The High-Level Panel was preceded by opening remarks from Hon. Dr Saara Kuugongelwa-Amadhila, Prime Minister of Namibia, and Dr. Ba?rbel Kofler, Parliamentary State Secretary, German Federal Ministry for Economic Cooperation and Development. During the panel, Federal Minister of Justice of Nigeria, officials from Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG), the Financial Action Task Force of Latin America (GAFILAT), CTED and the Counter Terrorism Directorate of INTERPOL, as well the Director of the Centre for Finance & Security, RUSI, discussed trends and threats and the effectiveness of current global strategies in combatting terrorism financing.
Among other relevant discussions, the Global Forum featured a session on avoiding unintended consequences and finding the fragile balance between safeguarding the legitimate interests of civil society and preventing terrorist financing, with the participation of the Financial Action Task Force (FATF) 2020-2022 and incoming 2024-2026 Presidents.
Other sessions covered a range of topics from cooperation and collaborative approaches in the digital transformation of AML/CFT systems; to financial inclusion; to purposes and consequences of FATF “grey listing”.
The Global Forum on Illicit Financial Flows and Sustainable Development is a global platform that brings together representatives from the public and private sectors, civil society, and academia. Its primary objective is to strengthen the sustainable development policy perspective within the international system for combating illicit financial flows. More details are available at