Source: PIB
Context: The 4th ‘No Money for Terror’ (NMFT) Conference was held in Munich, 2025, where India emphasized the need for global cooperation against terror financing.
About No Money for Terror (NMFT) Conference:
- What is NMFT?
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- A global ministerial-level initiative aimed at combating terrorist financing.
- Platform for intelligence sharing, legal cooperation, and policy formulation against terror funding.
- Established in: 2018, first held in Paris.
- Under control of: Financial Action Task Force (FATF) & UN Counter-Terrorism Bodies.
- Aim:
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- Disrupt financial networks of terrorist organizations.
- Strengthen global financial monitoring and regulatory frameworks.
- Facilitate international cooperation in countering terror financing.
- Functions & Features:
- Intelligence Sharing: Enhances real-time data exchange on financial transactions linked to terrorism.
- Legal Reforms & Regulations: Encourages nations to update counter-terrorism laws and financial tracking systems.
- Monitoring Digital Transactions: Addresses cryptocurrency risks, online crowdfunding, and emerging terror financing methods.
- Strengthening Banking & Financial Oversight: Works with banks, fintech companies, and financial intelligence units to detect suspicious transactions.
- Capacity Building: Provides training, technical expertise, and resources to nations for effective counter-terrorism operations.
