Finance reps given advice on tackling global terror

SOME of the leading organisations tackling the financing of terrorism have spoken to finance industry practitioners about the role they need to play in a global campaign against terror.

Paris Terror Attack
Floral tributes left at Le Carillon, Paris following the terror attacks in 2015. Speakers from the United Nations Security Council, the FBI, Israel, France and the UK addressed members of the islands’ finance industry at St James recently about tackling the financing of terrorism. (PA Pictures)

Guernsey and Jersey’s States, working with its financial services regulator, organised seminars in each island on risk awareness and mitigation for international terrorist financing.

Speakers were drawn from the United Nations Security Council, the FBI, Israel, France and the UK to advise on a number of key issues.

They gave an international perspective on the threats of terrorist financing, development of regimes and sanctions used to combat it, and the specific approach in the islands.

More than 200 industry representatives attended the event at St James.

‘International bodies such as the UN and the FATF require governments not only to have robust legal systems for combatting terrorism and terrorist financing, but also to provide information to businesses,’ said a spokesman for the States of Guernsey.

‘The international community considers it crucial to increase awareness by businesses in order to help them address the risk of terrorist financing and its hideous consequences.'