The second edition of the ‘No Money for Terror’ Ministerial Conference took place in Melbourne, Australia on 7th November 2019. The event was attended by representatives from over 65 nations including the Minister of State for Home Affairs from India. This initiative was launched by Financial Intelligence Units (FIUs) from more than 100 countries, collectively known as The Egmont Group. Following its first debut in Paris back in 2018, this conference aims to intensify international efforts in countering terrorist financing.
The Role of The Egmont Group and the Evolution of ‘No Money For Terror’
The Egmont Group is an international organization composed of the FIUs from across the globe. Their mission is to foster better communication between the intelligence units of different countries to combat money laundering and financing of terrorism. The ‘No Money For Terror’ Ministerial Conference is one of their initiatives that emerged in 2018. It’s a forum for discussing effective strategies and actions to disrupt financial support to terrorist activities. After its initial conference in Paris, the second meeting shifted to Melbourne with an expanded participation from 65 nations.
India’s Participation and Stance
At the 2019 conference, India, represented by the Minister of State for Home Affairs, proposed a zero-tolerance approach towards terrorism. This involves an integrated global effort against entities that support terror or generate finances for it. The delegation from India also highlighted the damaging role of social media platforms in supporting and propagating terror activities, hence undermining any bans imposed by the United Nations (UN).
Proposed Points for Inclusion in the Resolution
The Indian delegation made several proposals for the final resolution. They emphasised that terrorism represents the most significant threat to peace, security and development. Therefore, they advocated for nations to expedite the finalisation of a Comprehensive Convention on International Terrorism under the United Nations (UN).
Furthermore, they stressed that the Financial Action Task Force (FATF) Standards must be effectively enforced and UN listings or FATF should not be politicised. They suggested initiating discussions on ‘Countering Financing of Radicalisation (CFR)’, which would prevent radicalisation, thereby tackling a significant root of terrorism.
| Year | Location | No. of Participating Countries |
|---|---|---|
| 2018 | Paris, France | 100+ |
| 2019 | Melbourne, Australia | 65 |
‘No Money For Terror’ Conference in India in 2020
India is set to host the next edition of the ‘No Money for Terror’ conference in 2020. It’s expected to further highlight the country’s commitment to a global approach against terror financing, and will be an excellent opportunity for India to showcase its plans and developments in this sphere on a global platform.
