{
  "id": 16335853,
  "title": "Combating terrorism by cutting off the financial sources",
  "url": "https://urgent.news/2026/10/24/combating-terrorism-by-cutting-off-the-financial-sources",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-24T14:07:00.000Z",
  "source": {
    "name": "Gulf Times Business",
    "slug": "gulf-times-business",
    "url": "https://www.gulf-times.com/article/736528/business/combating-terrorism-by-cutting-off-the-financial-sources"
  },
  "original_language": "en",
  "account": "Terrorism poses a significant threat to global security, especially in specific regions due to various factors unique to those areas. To combat this menace, multiple countries, as well as individual nations, have implemented various strategies. Among these, the Financial Action Task Force (FATF), established in 1989 by the G7, has been instrumental in setting global standards to prevent money laundering, terrorism financing, and funding of weapons of mass destruction.\n\nFATF has issued recommendations aimed at tackling terrorism financing, emphasizing the importance of stopping all financial resources that support terrorism. The most crucial recommendation is for all countries to ratify and implement UN instruments designed to prevent terrorism financing. The United Nations actively encourages its member nations to combat terrorism vigorously and promote global peace.\n\nTo achieve this, countries must enact legislation criminalizing any actions that lead to terrorism financing. These laws should include specific provisions for freezing and seizing terrorist assets, encompassing all resources belonging to terrorists and utilized in their acts. Furthermore, these laws should incorporate provisions for reporting any transactions that may appear suspicious in relation to terrorism.\n\nAll entities and individuals must remain vigilant to take necessary actions against terrorism, protecting themselves and others. Failure to do so could lead to grave consequences, potentially resulting in loss of life. Any information about suspicious activities can contribute to eradicating the hidden threat of terrorism.\n\nThe FATF's recommendations for stopping terrorism financing underscore the need for international cooperation, as terrorism is a global crime that can occur anywhere without requiring a visa. All must take proactive steps to address this issue, as everyone is affected and at risk. Controlling terrorism financing requires thinking creatively beyond traditional methods. For banks and financial institutions, strict adherence to existing regulations is essential, as well as regulating alternative remittance mechanisms such as \"hawala,\" where money is sent through hand delivery due to limited access to banks or money changers.\n\nRegulating these alternative remittance methods is crucial, as they can serve as viable channels for financing terrorism. In summary, these recommendations aim to curb all financial resources used for terrorism. Vigilance and the adoption of corrective measures by all are paramount, as failing to do so could expose us to numerous dangers posed by terrorists seeking to carry out their malicious plans. Dr. AbdelGadir Warsama Ghalib, a corporate legal counsel, underscores the importance of these measures.",
  "summary": "Terrorism causes real threat to the world, particularly in certain areas due to many reasons related to that particular place. In fact, there are steps taken worldwide by all countries and at the indi...",
  "key_points": [
    "FATF sets global standards to prevent terrorism financing.",
    "Countries must ratify UN instruments to combat terrorism.",
    "Legislation should criminalize terrorism financing activities."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}