No Money for Terror: Union Home Minister Amit Shah while addressing the first session of the Third Ministerial Conference on Anti-Terrorist Financing on the topic 'No Money for Terror' at Hotel Taj Palace in Delhi on Friday said that giving protection to terrorist, terrorism is equivalent to promoting. He said that it is the collective responsibility of all countries that such elements and such countries should never succeed in their intentions.

Describing the financing of terrorism as a bigger threat than terror itself, Union Minister Amit Shah said that it cannot and should not be linked to any religion, nationality or group. He said that terrorists are constantly finding new ways to commit violence, radicalize youth and raise financial resources. For this, they are spreading radical material by using tools of cybercrime and hiding their identity. Amit Shah also said that the use of virtual assets like cryptocurrency is also increasing and the modus operandi of the activities carried out through the tools of cybercrime have to be understood and solutions have to be found.

The Union Minister said that there is no doubt that terrorism is the most serious threat to global peace and security. However, I believe that the financing of terrorism is more dangerous than terrorism, because such financing feeds the means and methods of terrorism. In addition, the financing of terrorism weakens the economy of the countries of the world. He said that we also believe that the threat of terrorism cannot and should not be linked to any religion, nationality or any group. He said that the transformation of terrorism from dynamite to metaverse and from AK-47 to virtual assets is definitely a matter of concern for the countries of the world. Amit Shah called upon all the countries to work together to prepare a common strategy against it.

Amit Shah said that India has made significant progress in strengthening the security infrastructure as well as legal and financial systems to counter-terrorism. He said that it is the result of our continuous efforts that there has been a huge reduction in terrorist incidents in India and as a result there has been a huge reduction in the economic losses due to terrorism. Indirectly attacking Pakistan and China, Amit Shah said that unfortunately there are some countries which want to weaken and destroy the collective efforts to fight terrorism. He said that some countries protect terrorists and also give them shelter. Giving protection to terrorist is equivalent to promoting terrorism. It is our collective responsibility that such elements and such countries never succeed in their intentions.

Union Minister Amit Shah cautioned all countries not to ignore terrorists' safe havens or their resources and said that such elements should be exposed by all. He said that it is therefore important that this conference, the participating countries and organizations, do not take a selective or complacent view of the terrorist challenges in the region. The Union Home Minister said that today terrorists or terrorist groups understand and use modern weapons, information technology and cyber and financial world very well.

Referring to the regime change in Afghanistan, Union Home Minister Amit Shah said that after August 21, 2021, the situation in South Asia has changed and the growing influence of Al-Qaeda and ISIS is emerging as a significant challenge to regional security. The tax has come to the fore. He said that these new equations have made the problem of terrorist financing more serious. Three decades ago, the whole world had to bear the serious consequences of such a change of power and we all have seen America's terrible attack like 9/11. He said that against this background, the changes that have taken place in the South Asia region in the last year are a matter of concern for all. He said that along with Al Qaeda, groups like Lashkar-e-Taiba and Jaish-e-Mohammed in South Asia are fearlessly trying to spread terror even today.

The Union Home Minister said that India condemns terrorism in all its forms and manifestations and firmly believes that no reason can be accepted to justify the act of taking innocent lives. Amit Shah said that we should never compromise with this evil. Shah said that India has been a victim of cross-border terrorism for several decades and Indian security forces and civilians have had to deal with incidents of serious terrorist violence. He said that there is a collective stand of the international community that terrorism should be condemned in all its forms.

The Union Home Minister said that India believes that the most effective way to deal with terrorism is international cooperation and real-time and transparent cooperation between nations. Amit Shah said that the emerging trends of drug trafficking globally and challenges like narco-terrorism have given a new dimension to the financing of terrorism. He said that in view of this there is a need for close cooperation among all nations on this subject. He said that multilateral institutions such as the United Nations and the presence of consensus forums such as the Financial Action Task Force (FATF) are most effective in curbing the financing of terrorism. He said FATF is playing an important role in preventing money laundering and terrorist financing.