Terrorist Financing. Please choose a current article related to terrorist financ

Question

Terrorist Financing. Please choose a current article related to terrorist financing. Cite your reference in academic English. Or discuss current laws related to terrorist financing. Terrorist Financing. Please choose a current article related to terrorist financing. Cite your reference in academic English. Or discuss current laws related to terrorist financing. Terrorist Financing. Please choose a current article related to terrorist financing. Cite your reference in academic English. Or discuss current laws related to terrorist financing.

Explanation / Answer

Ans: The fund that is provided to a terrorist organization for terrorist activity is known as terrorist financing. This may involve funds raised any type of sources, such as personal donation, drug trade, the smuggling of the weapons and other goods, fraud, kidnapping, and extortion.

Terrorist use ways like those of money launderers to evade authority attention, and to protect the identity of their sponsors and of the ultimate beneficiaries of the funds. When terrorist raise funds from legitimate sources, it became quite difficult to detect and track the fund. To move their fund’s terrorist use the old formal banking system, Hawalas, and Hundis and, the oldest way of asset-transfer, smuggling cash, gold, and other valuable product through smuggling route.

To stop Terrorist Financing Canada’s FINTRAC’s (financial intelligence) is working hard upon it to track and stop terrorist financing. FINTRAC’s plays a critical in helping to combat terrorist financing. They track the money and make sure that money didn’t reach to the terrorists.

Current laws related to terrorist financing in the USA are:-

Knowing provision of material support or resources to Foreign Terrorist Organizations (FTO)

As designated by the Secretary of State under section 219 of the Immigration and Nationality Act, codified as amended at 8 USC §1189, after knowing that the organization is a high class, FTO, also ensures that the organization is busy in terrorist or suspicious activity or in terrorism: 18 USC. §2339B. Terrorist activity covers a broad range of violent criminal behavior: 8 USC §§1182(a)(3)(B)(iii) and (iv). Terrorism is defined as“ use of violence in an unlawful manner and intimidation, mostly against civilians”: 22 USC §2656f(d)(2). The maximum fine applicable for all these offenses is USD 250 000 for a natural person and may be many times this in respect of an organization when a multiplier is applied to calculate the amount of the fine: §§2339A, 2339B, 2339C. A civil penalty is of at least USD 10,000.

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