Loading presentation...

Present Remotely

Send the link below via email or IM

Copy

Present to your audience

Start remote presentation

  • Invited audience members will follow you as you navigate and present
  • People invited to a presentation do not need a Prezi account
  • This link expires 10 minutes after you close the presentation
  • A maximum of 30 users can follow your presentation
  • Learn more about this feature in our knowledge base article

Do you really want to delete this prezi?

Neither you, nor the coeditors you shared it with will be able to recover it again.

DeleteCancel

GAS Tutorials: Counter Terrorism Financing

In this tutorial you'll know all the essentials about counter-terrorism financing. Similarities and differences with anti-money laundering, sources of financing terrorism and means of prevention. Enjoy :)
by

FATCA / CRS Team DK 2

on 22 March 2017

Comments (0)

Please log in to add your comment.

Report abuse

Transcript of GAS Tutorials: Counter Terrorism Financing

Methods of financing terrorism
Channels of financing terrorism
Governmental support
(e.g. IRA, ISIS)
Criminal activities
Larceny
Drug trafficking
Human trafficking
Money Laundering
Funds from legal organizations
and activities
Collecting membership fee
Publishing
Cultural or social events organizing
Collecting donations charity
Source: internal online Nordea CTF training "Introduction to Financial Crime"
The flow of money often looks similar, however the money that has been converted can come from both legal and illegal sources.
Money laundering
Financing terrorism
Source: http://foreignpolicynews.org/2016/10/16/countering-terrorist-finance-case-study-indias-efforts-counter-terrorism-finance/
CTF vs AML
FATF's main responsibilities
ratification of UN instruments
criminalization
of FT
confiscation
of assets

helping
supervisors
reporting
customer
due diligence
protecting NPOs
imposition
of requirements
Source: http://www.psz.pl/124-polityka/marcin-marcinko-finansowanie-terroryzmu (available only in Polish)

Nordea's strategies and tools against terrorism financing
How to prevent financing terrorism?
The banking system has a core role to play in society’s prevention of – and fight against – financial crime.




In Nordea the prevention of financial crime is taken
extremely seriously.
Support and advice provided by Financial Crime Compliance
Clear and transparent policies
Updating handbooks and instructions
Systematic internal trainings
E-learnings with mandatory participation
Know-your-customer issues
KYC information (CDD, EDD)
Transaction monitoring
Screening of payments
Compliance
Suspicious activity reporting
Source: https://www.nordea.com/en/responsibility/society/preventing-financial-crime/

Organized financial crime undermines legitimate economic actors and strengthens the shadow economy, thus diminishing economic growth and public resources



~
Commission to the Council and the European Parliament
"
The prevention of and fight against organised crime in the financial sector
", 26.08.2006
Source: http://eur-lex.europa.eu/legal-content/PL/TXT/?uri=URISERV%3Al14523
Definition of CTF
What is counter terrorism financing?
Terrorist Financing is the process by which terrorists fund their operations in order to perform terrorist acts.
Counter Terrorist Financing (CTF)
are all types of activities that
prevent financing terrorism.

CTF policy has always been strictly connected with
AML (Anti-Money Laundering)
– and their agendas were permeating each other from the very beginning. The beginning can be dated at the turn of
1980s and 1990s.



Legal background
Counter-Terrorism Committee (CTC)
UN
UN security
council resolutions
1267, 1368, 1373,
1540, 1566,
1617, 1624
Global Counter-terrorism strategy
Supported by CTITF - Counter Terrorism Implementation Task Force
16 Convention
and Protocols
They are the normative
and legal backbone
of global counter terrorism efforts
United Nations
founded in 1945 with headquarters in New York City; 193 members
Members of the UN Security Council.
CTC assess states' Implementation
of the resolution 1373:
countering
terrorist activities.
Regional instruments
European Union
African Union
Organization of American
States Association of S.E.
Asian Nations
etc.
European Union's
Counter-Terrorism Strategy
Prevent, protect, pursue, respond to terrorism financing
FATF
36 members, including 2 regional organizations (the Gulf Cooperation Council and the
European Commission
)
25 bodies have observer status (IMF, World Bank,
OECD
and various UN
law-enforcement bodies)

FATF REGIONAL BODIES
8 associate FATF members, tasked with enforcing its mandate on
a regional basis

CTF's purpose is to
collect and secure the funds
that may be used to support terrorist acts or organizations. Funds may stem from
both legal and illegal sources.
When it comes to the
organizations involved in fighting financial crime
, two most important ones are presented on the graphics below.
Source: internal online Nordea CTF training "Introduction to Financial Crime"
Source: http://www.fatf-gafi.org/about/
Source: http://fatfplatform.org/
Source: http://fatfplatform.org/
Source: http://fatfplatform.org/
Financial Action Task Force
COUNTER TERRORISM FINANCING
GAS TUTORIALS:
Thank you for your attention!
Presentation was brought to you by
FATCA/CRS Team DK 2

What a terrorist organization spend money on?
payments for
operatives
and their families
arrangements for
travel
training
new members
forgery
of documents,
bribes
,
weapons
, and
stage attacks
propaganda
promotion of a militant
ideology
Source: http://www.fatf-gafi.org/media/fatf/documents/reports/FATF%20Terrorist%20Financing%20Typologies%20Report.pdf
Vol. II Friday, March 22, 2017

Internal Nordea training "Introduction to Financial Crime"
FATF:
http://www.fatf-gafi.org/about/
FATF:
http://fatfplatform.org/
Financing terrorism:
http://psz.pl/124-polityka/marcin-marcinko-finansowanie-terroryzmu
(polish version only)
Financial Action Task Force:

http://www.fatf-gafi.org/media/fatf/documents/reports/FATF%20Terrorist%20Financing%20Typologies%20Report.pdf
Nordea on financial crime:

https://www.nordea.com/Images/36-37304/nordea-anti-money-laundering-poicy-en.pdf
Nordea on preventing the financial crime:
https://www.nordea.com/en/responsibility/society/preventing-financial-crime/
European Union on financial crime:
http://eur-lex.europa.eu/legal-content/PL/TXT/?uri=celex:52004DC0262
Music
:
http://www.bensound.com/

Sources:
Full transcript