UN Says Terrorists Are Funding Activities Through Crypto Transactions
Source: AdobeStock / bennymarty Terror organizations are increasingly turning to cryptoassests to fund their activities, said United Nations (UN) officials. During the UN’s Counter-Terrorism Committee (CTC) meeting in India on Friday and Saturday, the officials discussed the "threats and opportunities related to new payment technologies and fundraising methods," including the use of these "new and emerging" technologies to fund terrorist activities. One of the speakers was Svetlana Martynova, the Countering Financing of Terrorism Coordinator at the UN, who said that "prevalent methods" of financing terrorist organizations are still cash and hawala. The latter is a traditional money-transferring system, whereby the money doesn't move physically - it is paid to an agent who instructs an associate in a specific country or area to pay the final recipient. She added, "However, there is also an increase of their use in combination ...