PM Modi comes down heavily on issue of terror financing, says no place for 'radicalisation' in any country

Prime Minister Narendra Modi, addressing the issue of terrorism and terror financing, said today that there is an urgent need to tackle the problem of terror funding in all its dimensions. The Prime Minister was speaking at the third 'No Money for Terror’ (NMFT) Ministerial Conference on Counter-Terrorism Financing, held in Delhi.

PM Modi said further that the long-term impact of terrorism is particularly hard on the poor and on the local economy, adding: "Be it tourism or trade, nobody likes an area that is constantly under threat. And due to this, the livelihoods of people are taken away. It is all the more important that we strike at the root of terror financing."

It is well known that terrorist organisations get money through several sources, the Prime Minister said, as he spoke at length about the sources in details. "One source is state support. Certain countries support terrorism as part of their foreign policy. They offer political, ideological and financial support to them," he said. 

"International organisations must not think that the absence of war means peace. Proxy wars are also dangerous and violent. There must be a cost imposed upon countries that support terrorism. Organisations and individuals that try to create sympathy for terrorists must also be isolated. The world needs to unite against all kinds of overt and covert backing of terror," Modi said. 

He also talked about organised crime during his address at the Conference and said that such crimes should not be seen in isolation. "These gangs often have deep links with terrorist outfits. The money made in gun-running, drugs and smuggling is pumped into terrorism. These groups help with logistics and communication too. Action against organised crime is extremely important in the fight against terror. At times, even activities like money laundering and financial crimes have been known to help terror funding," he mentioned. 

At the conference, Prime Minister also pointed at the role of technology for terror financing and recruitment. He said, "Challenges from the dark net, private currencies and more are emerging. There is a need for a uniform understanding of new finance technologies. It is also important to involve the private sector in these efforts. From a uniform understanding, a unified system of checks, balances and regulations can emerge."

Joint operations, intelligence coordination and extraditions help the fight against terror, noted Prime Minister Narendra Modi. "Many different nations have their own legal principles, procedures and processes. Sovereign nations have a right to their own systems. However, we must also be careful not to allow extremists to misuse differences between systems. This can be prevented through deeper coordination and understanding between governments," he added. 

He also brought out the importance of jointly addressing the problem of radicalisation and extremism, and said "anyone who supports radicalisation should have no place in any country."

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