IslamicFinance.de

More than 70 countries committed to bolster efforts in the fight against terrorism financing. Participants at an international conference in Paris vowed to improve international coordination and enhance transparency of financial flows. The two-day event was convened by French President Emmanuel Macron to coordinate efforts to reduce the terror threat in the long-term. Experts attending the conference noted terror groups are using increasingly hard-to-track tools like prepaid cards, online wallets and crowdfunding operations. They called for better information-sharing between intelligence services, law enforcement, financial businesses and the technology industry. They also agreed to improve the traceability of funds going to non-governmental organizations and charity associations.