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Boko Haram, Local News, News, World News

UN moves to block sources of funding for Boko Haram, other terror groups

united nationThe United Nations Security Council has stepped up efforts to block all sources of funding for the Islamic State in Syria and Iraq (ISIL), Boko Haram and other terrorist groups.

Such sources include ransom payments, no matter by whom.

This was contained in a unanimously adopted resolution at a session presided over by the US Treasury Secretary, Jack Lew.

The 15-member body called for enhanced actions from closing financial system loopholes to stopping the abuse of charitable causes.

It stressed that existing resolutions “shall also apply to the payment of ransoms to individuals, groups, undertakings or entities on the ISIL [Da’esh] and Al-Qaida sanctions list, regardless of how or by whom the ransom is paid.”

Those resolutions mandate countries to ensure that financial assets are not transferred to terrorists by persons within their territory.

The resolution also called for increased international cooperation in sharing information and closer collaboration with the private sector so as to identify suspect transactions.

The council also called on member states to promote enhanced vigilance by persons within their jurisdiction.

This, they said, was with a view to detecting any diversion of explosives and raw materials and components that could be used to manufacture improvised explosive devices (IED) or unconventional weapons.

These include chemical components, detonators, detonating cord, and poisons.

Earlier, in his remarks at the start of the debate, UN Secretary-General, Ban Ki-moon, said terrorists were “agile and have been far too successful in attaining resources for their heinous acts.

“As Da’esh and other terrorist groups disseminate their hateful propaganda and ratchet up murderous attacks, we must join forces to prevent them from acquiring and deploying resources to do further harm. We know the challenge before us.

“Terrorists take advantage of weaknesses in financial and regulatory regimes to raise funds. They circumvent formal channels to avoid detection and exploit new technologies and tools to transfer resources.

“They have forged destructive and very profitable links with drug and criminal syndicates, among others. And they abuse charitable causes to trick individuals to contribute.”

The UN chief noted that progress had been made over the years in identifying and limiting various methods of terrorist financing.

According to him, this is evident in the ratification of the International Convention on the Suppression of the Financing of Terrorism.

He also said that member states had adopted legislation to criminalise terrorist financing and strengthen regulatory systems.

“Still, more needs to be done. Terrorists continue to adapt their tactics and diversify their funding sources. Today, Da’esh runs a multi-million dollar economy in territories under its control.

“Da’esh terrorists raise money through the oil trade, extortion, undetected cash couriers, kidnapping for ransom, trafficking of humans and arms and racketeering.

“They loot and sell precious cultural property, shamelessly profiting from the destruction of humanity’s common heritage. Social media outreach is exploited by Da’esh, not just for radicalisation and recruiting, but also for fund raising.

“Other terrorist organisations around the world, from Boko Haram to Al-Shabaab to the Taliban, are following suit,” the UN scribe said

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