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Bali summit agrees to stronger collaboration to combat terrorism financing
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Closer cooperation – Australian Financial Intelligence Unit (AUSTRAC) CEO Paul Jevtovic (right) reads out the Nusa Dua Statement in the closing ceremony of the second Counter-Terrorism Financing Summit in Nusa Dua, Bali, on Thursday. (thejakartapost.com/Ni Komang Erviani)
C
ountry representatives participating in the second Counter-Terrorism Financing Summit agreed on Thursday to a Nusa Dua Statement for stronger collaboration on countering terrorism financing.
The statement is a follow-up to the Sydney Communiqué agreed to in the first summit in Sydney, Australia, last year.
All delegates from 26 countries proclaim in the Nusa Dua Statement that “the Islamic State (IS) in Iraq and the Levant constitutes a global threat to international peace and security”.
In the statement, they also emphasize that governments cannot work alone to protect financial systems and regional security from terrorism and its financiers. Therefore, they must enhance international cooperation with industry, civil society and the community in devising and adopting effective measures to prevent terrorism financing, as well as to share knowledge and promote collaboration.
All delegates commit to promote stronger collaboration and innovation in countering terrorism financing through several attempts. These include operationalising the Terrorism Financing Regional Risk Assessment (TFRRA), strengthening regional cooperation on intelligence information exchanges, establishing a community outreach consultative group, continuing to build technical capability and consistency to maximize regional and global capacity to counter terrorism financing and prevent the misuse of technology as a potential means for terrorist financing.
As an attempt to operationalize the TFRRA, priority actions would be taken within the next year and a report on progress will be submitted at the 2017 Counter-Terrorism Financing Summit in 2017 in Kuala Lumpur Malaysia.
Financial Transaction Reports and Analysis Center (PPATK) head Muhammad Yusuf said the Nusa Dua Statement was an important agreement made for a stronger attempt to counter terrorism financing.
"This statement is a level higher than the communiqué we made in Sydney, which means it’s a real action plan," he said. He added all countries should take action within one year and report their progress in the Malaysia summit. (ebf)
