Terrorist Groups Raise Funds from Digital Assets and Social Media
At the "Special Conference" held by the United Nations Anti Terrorism Federation (CTC) in the Indian capital and Mumbai, it is reported that ISIL and Al Qaida and other terrorist organizations have been actively developing crypto space to provide financial support for their terrorist activities.
The Anti Terrorism Federation of the United Nations Organization held a meeting from October 28 to 29, which focused on how to crack down on the use of new technologies for terrorist activities. Svetkali Maltinova, assistant to the President of the Anti Terrorism Court, announced at the meeting that terrorist organizations were active in virtual assets and social networks to raise funds for their illegal activities.
Although financial industry behavior special investigation group (FATF) and other departments committed to cracking down on terrorist financing have already implemented corresponding measures to prevent terrorists from participating in data encryption service platforms, Martynova said that a large number of countermeasures should be taken to limit the fund accumulation of this institution.
Martynova added that although traditionally, the "key way" to support terrorist organizations is cash "hawala", his way has also improved with the development of technology. She said, "We all know that terrorists will integrate into the surrounding environment changes, and with the development of technology, they will also integrate".
In addition, Martynova commented that terrorists have been misusing cryptocurrencies:
If they are eliminated from the initial financial system, they want to buy anonymous items for project investment, and they are excellent in this respect, they are likely to misuse cryptocurrency
In addition, the new President of the United States (Antonio Guterres), President of Australia, indicated that with the growing development potential of modern science and technology in improving people's standards, the level of harm they have caused is far higher than expected.
It is noteworthy that Martynova's suggestion on limiting such illegal and illegal activities is to make necessary allocation in each country and give priority to the review of the risks and system vulnerabilities of the encrypted space.