Categories
Intelligence Finance

Addressing the Foreign-Fighter Risk: a Role for Financial Intelligence?

Free Syrian Army fighters in Idlib, courtesy of Freedom House/flickr

The participation of foreign fighters in the Syrian conflict is a growing concern, particularly among Western governments that are not only struggling to track the movement of their citizens, but are also fearful that those travelling to the conflict may become radicalised and return home with their extremist ideology. Recently, a UK Parliament Home Affairs Committee enquiry into counterterrorism heard from a range of experts how returning fighters pose a statistically significant risk to the security of their home countries. Research published by Thomas Hegghammer also suggests that perhaps one-in-nine foreign fighters from the West might perpetrate attacks on their home countries once they return.

In addition, several studies have been undertaken that seek to estimate the number and nationality of these foreign fighters. Consensus suggests that there are over 10,000 such fighters in Syria, with as many as 2000 (and rising) coming from Western Europe. A number of these have already died in battle or, as in the case of Briton Abdul Waheed Majeed, acted as suicide bombers. Yet, while there is certainly no suggestion that all those returning from the conflict will be radicalised, the West’s limited knowledge as to who travels and returns from Syria is alarming.

Categories
Government Terrorism

Banks, Authorities, and CTF: A Missed Opportunity and Security Weakness

Wallet and Credit Cards
Photo: United States Navy/Wikimedia Commons.

A recent ISN blog by Owen Frazer highlighted the implications of the post-9/11 ‘Financial War on Terror’ for civil society groups as they grapple with the vulnerability global authorities believe they represent in the struggle against terrorism. But there is a third, critical party in this field that is not often contemplated from a security perspective, namely the Financial Services Industry (‘FSI’).

Following 9/11, the first step of the Bush administration’s ‘War on Terror’ was to sign Executive Order 13224, which aimed to launch ‘a strike on the financial foundation of the global terror network’ in order to ‘starve the terrorists of funding.’ This assault was led by the Financial Action Task Force (‘FATF’), a body originally set up in 1989 to co-ordinate a global response to the laundering of drug money through the banking system. Adding counter-terrorist financing (CTF) to the mandate of the FATF seemed logical at the time, and the Task Force expanded its original 40 Recommendations to include 9 Special Recommendations focused on CTF.  These additional recommendations were recently revised and amalgamated to create a new set of 40 Special Recommendations. In effect, this regime has led global authorities to delegate the frontline implementation of CTF policies to the FSI.