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Tuesday 20.03.2018 | Name days: Made, Irbe

European Parliament: it is necessary to halt terrorism funding

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUTo halt terrorism funding, the European Union member states should monitor suspicious transactions and charity organizations, as well as exchange information about them more actively, members of the European Parliament propose.

In order to fight terrorism more effectively, it is necessary to oppose illegal trade of goods, arms, oil, narcotics and cigarettes, MEPs mentioned in the resolution approved on Thursday, 1 March.

They emphasize that part of the funding terrorists receive is acquired in Europe thanks to mutually linked international non-profit organizations, charity organizations and funds that serve as cover for criminal activities.

MEPs ask EU Council, European Commission and European External Action Service to form an EU anti-terrorism funding intelligence platform that would improve information exchange and coordination among finance institutions. This platform could be put under Europol’s authority, as proposed by the European Parliament.

MEPs also propose preparing a list of private and legal persons with high levels of suspicion. It is also proposed to follow activities of suspicious organizations potentially involved in illegal trade, smuggling and fraud.

EP emphasizes that it is necessary to ensure that banks perform tight monitoring of pre-paid cards to make sure the only way to extend them only using bank transfer and identifiable accounts. It is also proposed to monitor religious and education institutions, charity organizations and cultural associations if there are justified suspicions about their possible ties to terrorist organizations.

Also, according to the European Parliament, it is necessary to investigate if crypto-currencies and financial technologies are being used to finance terrorism, and if these sectors should be regulated on a European level.


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