The role of financial intelligence in combating the financing of terrorism

Seyfettin Unal and Mehmet Altun

Journal of Money Laundering Control, 2020, vol. 24, issue 3, 571-583

Abstract: Purpose - This study aims to examine how important the countering terrorism financing is in the fight against terrorism and to what extent does financial intelligence contribute into this field. Design/methodology/approach - To this end, to collect data, semi-structured interview method was conducted for 15 experts, including academicians, judges, security and intelligence officers who have specialised and been practising in the field of terrorism. Then, the data were analysed with the descriptive and systematic method. Findings - The findings highlight that countering terrorism financing is indispensable in the scope of the combating terrorism; however, there are still much to be done in practice to achieve more success in this field. The results also suggest that the process requires more flexible and proactive approach with the help of an autonomous financial intelligence unit to be more efficient. Moreover, there must be better cooperation and coordination at both national and international levels. Furthermore, training more professionals from multidisciplinary backgrounds and raising awareness among the public and private sectors are found to be other key factors for effective combating of the system. Originality/value - The research has been conducted on participants who mostly have been in fight against terrorism over 20 years who are aware of the early methods, as well as the recent ones both in theory and in practice. Their view is significant to understand the situation in combating financing of terrorism.

Keywords: Terror; Financing of terrorism; Financial intelligence (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:jmlc-09-2020-0102

DOI: 10.1108/JMLC-09-2020-0102

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