This video by Tom Keating of the International Centre for the Study of Radicalisation describes the interplay of finance and counterterrorism (CTF – counterterrorism finance) including:
1) E.O. 13224 was the “first shot on the war on terror,” which froze the assets and banking accounts of Al-Qaeda members.
2) The executive order was supported by the best practices of the Financial Action Task Force (FATF) and U.N. Resolution 1267 and 1373.
3) Terrorists need a long term financial strategy for planning attacks and for maintaining “its military infrastructure.”
4) Other expenses include paying fighters, proving welfare and social services for territorial holdings, and purchasing munitions.
5) Funds for terrorism come from a mixture of legitimate and illegitimate schemes.
6) Most funds come from remittances and kidnapping for ransom (transnational organized crime – TNOC).
8. Future developments of CTF may include social media and a greater understanding of TNOC.
See E.O. 13224 at: http://www.state.gov/j/ct/rls/other/des/122570.htm
See FATF: http://www.fatf-gafi.org/
See U.N. Resolution 1267 at: http://www.un.org/sc/committees/1267/