India to host “No Money for Terror” Conference

November 12, 2022

The 3^rd Ministerial “No Money for Terror” Conference will set to be held on November 18 and 19 this year in New Delhi, India.

The Ministerial No Money for Terror (NMFT) Conference aims to create platform for international discussions on countering terror financing.
The conference includes discussions on technical, legal, regulatory and cooperative aspects of the terrorism financing.
It aims to set pace for other high-level official and political discussions focusing on terror finance.
The inaugural edition of this conference was held in Paris, France, in 2018. The second edition of the NMFT took place in Melbourne, Australia, in 2019.
The third edition was set to take place in India in 2020 but was postponed because of COVID-19 pandemic that caused the global-level restrictions on travel.

The third edition will be organized by the Ministry of Home Affairs.
The event will witness participation from over 75 countries.
This is the second major conference hosted by India this year.
It earlier hosted the meeting of the United Nations Security Council’s Counter-Terrorism Committee (CTC). This is the first time that the UNSC CTC met in India and only seventh time that it was held outside New York.

Discussions at the 3^rd NMFT conference will focus on global trends of terrorism and terrorist financing, emerging technologies’ role in terrorism financing and importance of global cooperation to address related challenges.
The meeting will seek global cooperation in addressing the challenges in countering terror funding obtained via formal and informal channels.
It will focus on the role of cryptocurrency in funding terrorist activities. It will deliberate on the concerns related the decentralized nature and the lack of regulation of cryptocurrencies.
The focus will also be given to dark web’s role in promoting transfer or crowdsourcing of funds for terrorism.
It also aims to strengthen the role of Financial Action Task Force (FATF) in setting global standards that can create an effective mechanism to combat terror funding.