Ways to combat terrorist financing were discussed during a conference of the United Nations Office of Counter-Terrorism (UNOCT) hosted in the coastal city of Limassol, Cyprus.
Parliamentarian Rita Superman – Chair of the Policy Dialogue of the UN Coordination Mechanism for Parliamentary Assemblies on Counter-Terrorism and PAM Rapporteur on Counter-Terrorism said that the evidence is clear that terrorist groups exploit new technologies, such as cryptocurrencies, crowdfunding platforms, and informal money transfer, to finance their malicious operations.
She added that they are also increasingly relying on the Dark Web to conduct ‘trade-based money laundering’ and avoid detection.
“As parliamentarians, we need to make sure that our national strategies are up-to-date, consistent, and connected with regional and international instruments, while also focusing on enhancing the processes of harmonisation and coordination among investigation authorities, prosecutors, financial intelligence units, and law enforcement authorities”, she said.
The Cyprus MP also noted that key priorities include building stronger risk assessment mechanisms, strengthening cross-border coordination, regulating vulnerable sectors, and improving operational capacity to track new technologies and online fundraising.
“It is our responsibility to ensure that national legislations are aligned with global standards by relying on comprehensive international frameworks, such as the Financial Action Task Force (FATF) Recommendations”, Superman said.
In her speech, read by a representative, Guadalupe Megre, Chief of the Special Projects and Innovation Branch at UNOCT noted that terrorist organizations increasingly rely on diversified and sophisticated methods such as virtual assets, online crowdfunding platforms, informal transfer systems, and the exploitation of human trafficking and smuggling network, in order to generate, move, and conceal funds. These trends demand comprehensive, coordinated, and accountable responses.
She also underlined that today’s dialogue also supports the alignment of national frameworks with the Financial Action Task Force (FATF) Recommendations, particularly those concerning criminalization, targeted financial sanctions, and the safeguarding of the non-profit sector.
Megre went on to say that MPs play a decisive role in ensuring that domestic legislation remains aligned with international obligation, that counter-financing measures are transparent and proportionate, the rights of individuals and civil society are protected and that coordination across financial, judicial, and security institutions is effective and accountable.
She also reaffirmed UNOCT’s strong commitment to its partnership with parliaments and parliamentary assemblies, noting that their engagement is essential for building transparent, accountable, and effective counter-terrorism frameworks that protect societies and uphold the rule of law.
Sergio Piazzi, Secretary General of the Parliamentary Assembly of the Mediterranean (PAM) said in his speech that over the last three years, the Coordinating Mechanism on the issue, through its Policy Dialogues, has addressed a wide range of issues, closely following and monitoring the evolving trends of terrorism across regions.
“Thanks to the evolving focuses of the Policy Dialogues, the Coordination Mechanism has asserted itself as a consolidated platform for exchange that recognizes the vital role of parliaments and parliamentarians in supporting the actions of the international community in the global fight against terrorism”, he said.
Piazzi noted that the focus this year turns to the financing of terrorist operations, a challenge that has grown more complex with the rapid development of AI and emerging technologies misused by terrorist and criminal groups to expand their activities.
He went on to say that through continued cooperation, the MPs can ensure that the Mechanism remains an effective tool to address the evolving threats, as we share best practices and work towards harmonizing national legislations with international resolutions and guiding principles.
On behalf of the Cyprus Delegation to the Parliamentary Assembly of the Mediterranean, MP Andreas Pasiourtides said that today’s session of UNOCT has particular importance, as combating the financing of terrorism constitutes a top challenge for all societies in a global environment adding that knowledge exchange and joint efforts are our strongest defenses.
Vice-President of the Qatar Advisory Council, which co-finances UNOCT, Abdulla Nasser Al Subaey addressed the participants via a video message.
The 8th Meeting of the Coordinating Mechanism of Parliamentary Assemblies of UNOCT is set to take place Wednesday.