Terrorist Financing

Terrorists rely on international financial systems in order to act, organize and attack, so by detecting and preventing terrorist financing, it is possible to limit terrorist operations. Monitoring terrorist financing can also lead to intelligence on the structure of terrorist organizations, the activities of terrorists, and their logistics and facilitation networks. The WCO has worked with many organizations such as the United Nations and the Financial Action Task Force (FATF) in order to detect and prevent terrorist financing and is collaborating with organizations such as the Egmont Group and the Office of Foreign Asset Control in order to detect and prevent terrorist money laundering.  The terrorist financing initiative supports members in complying with obligations stipulated in UN SC Resolutions 1373 (2001) and 2178 (2014) which call on states to tighten control around financial flows thereby preventing them from being misused for terrorist and extremist purposes.