EU interior ministers on Friday will consider new steps to cut off financial flows to terrorist groups, including a proposal to create a bloc-wide database of bank accounts, according to sources. Following the string of coordinated attacks in Paris last week, officials from France and Luxembourg, which currently holds the Council of the European Union Presidency, have asked for a meeting by Justice and Home Affairs Ministers in Brussels to discuss a united response from EU member-states. The ministers will discuss border and firearms control, among other issues, according to a statement. Officials will also weigh proposals to bolster counterterrorist-financing...
Among the many challenges of identifying terrorist funds is the fact that they can be hidden in plain sight, according to Colin P. Clarke, an associate political scientist at the RAND Corporation who studies the subject.
The French government intends to move quickly to strengthen protections against terrorist financiers, including broadening investigatory access to data on suspected militants and toughening oversight of prepaid cards, a top official said Monday.
A global anti-money laundering group is set to include at least a dozen countries on a new list of jurisdictions that don't meet minimum standards for controls against terror finance, according to a source with direct knowledge of the matter.
Representatives of over 20 nations meeting in Paris endorsed a plan to choke off international funding of Islamic State militants and prevent the organization from financing its growing cadre of foreign affiliates.