From April 30 to May 2, 2024, Riyadh, Saudi Arabia, transformed into a hub of expertise as it hosted a regional capacity-building workshop on Countering the Financing of Terrorism (CFT). This pivotal event, organized by the United Nations Counter-Terrorism Centre (UNCCT), the Naif Arab University for Security Sciences (NAUSS), and the Arab Interior Ministers Council (AIMC) brought together approximately 100 officials from Arab Member States. Their mission: to delve into the complexities of CFT and share cutting-edge insights. With contributions from a diverse array of experts, the workshop underscored a unified commitment to combating terrorism financing.
Complytek stood out at the workshop with our CEO, Faisal Islam, delivering an eye-opening presentation on “Digital Financial Investigations and Terrorism Financing Dynamics.” He highlighted the distinct challenges posed by the use of cryptocurrencies in terrorism financing. Faisal’s presentation was a deep dive into how digital assets are being exploited by terrorist groups, revealing new tactics and strategies that these groups employ. Complytek’s state-of-the-art tools and methodologies for tracking and analyzing digital transactions were showcased, emphasizing our leadership in the fight against terrorism financing.
Key aspects of Faisal’s presentation included:
A significant concern raised during the workshop was the vulnerability of non-profit groups to terrorist financing. Mr. Suliman Aljabrin, Executive Secretary of the Middle East and North Africa Financial Action Task Force (MENAFATF), highlighted that in the MENA region, non-profits are especially susceptible.
Terrorist groups often hijack legitimate causes on popular social media platforms like Facebook, Instagram, and Twitter. They receive direct donations from people unaware of the funds’ true destination. Striking a balance between maximum exposure and minimal risk of seizure is crucial, making public donation campaigns less common. Instead, these groups divert traffic to closed or filtered channels, highlighting the need for stringent regulatory measures and vigilant oversight of non-profit organizations.
Mr. Suliman Aljabrin also emphasized the critical importance of public and private sector cooperation in an effective CFT program. We, at Complytek, fully endorse this viewpoint. Collaborative efforts are essential to successfully counter terrorism financing. Integrating public and private resources and knowledge can significantly enhance the effectiveness of CTF measures.
“Public and Private partnerships are vital in these capacity building workshops and we are delighted to include Complytek as an ongoing partner and contributor to the UNOCT“, said Kamal Anwar, Programme Management Officer at the United Nations Office of Counter Terrorism.
Aljabrin noted that some CFT risks are transactional and that keeping pace with technical advancements is crucial. This reinforces the need for ongoing collaboration and innovation across sectors. Public-private cooperation can lead to better risk assessment, enhanced data sharing, and the development of robust strategies to counteract emerging threats.
The workshop underscored a shared vision for a safer world. We are privileged to have participated in such a meaningful discussion. As Azzeddine Salmane from UNOCT beautifully summarized, “Every act of preventing terrorism is an act of bringing peace.” Cutting off terrorism financing is essential, not optional. Mr. Khalid bin Abdulaziz Al-Harfash, Vice President for External Relations at Naif Arab University for Security Sciences emphasized the need to “work in harmony, pursuing commitment to CFT.“
This workshop marked a significant step towards a more secure future. Complytek remains dedicated to combating terrorism financing through innovative solutions and strong partnerships. By working together, the public and private sectors can create a formidable barrier against the flow of funds to terrorist organizations, ultimately contributing to global peace and security.
Read more details about this insightful workshop on the United Nations’ article here: https://www.un.org/counterterrorism/events/regional-capacity-building-workshop-cft-nauss-arab
