Limassol: Ways to combat terrorist financing were discussed during a conference of the United Nations Office of Counter-Terrorism (UNOCT) hosted in the coastal city of Limassol, Cyprus.
According to Cyprus News Agency, Parliamentarian Rita Superman, Chair of the Policy Dialogue of the UN Coordination Mechanism for Parliamentary Assemblies on Counter-Terrorism and PAM Rapporteur on Counter-Terrorism, emphasized that terrorist groups are exploiting new technologies such as cryptocurrencies, crowdfunding platforms, and informal money transfers to finance their operations.
She highlighted the increasing reliance on the Dark Web for trade-based money laundering to avoid detection. Superman urged parliamentarians to ensure national strategies are aligned with regional and international instruments, emphasizing the need for harmonization and coordination among investigation authorities, prosecutors, financial intelligence units, and law enforcement agencies.
The Cyprus MP also stressed the importance of building stronger risk assessment mechanisms, enhancing cross-border coordination, regulating vulnerable sectors, and improving operational capacity to track new technologies and online fundraising. She called for national legislations to align with global standards, citing the Financial Action Task Force (FATF) Recommendations as a comprehensive international framework.
In her speech, read by a representative, Guadalupe Megre, Chief of the Special Projects and Innovation Branch at UNOCT, noted the sophisticated methods terrorist organizations employ, such as virtual assets and online crowdfunding platforms, to generate and conceal funds. She emphasized the need for comprehensive and coordinated responses aligned with the FATF Recommendations, particularly in areas of criminalization, financial sanctions, and safeguarding the non-profit sector.
Megre stressed the decisive role of MPs in ensuring domestic legislation aligns with international obligations, maintaining transparency in counter-financing measures, and protecting the rights of individuals and civil society. She reaffirmed UNOCT’s commitment to partnering with parliaments to build effective counter-terrorism frameworks.
Sergio Piazzi, Secretary General of the Parliamentary Assembly of the Mediterranean (PAM), highlighted the Coordination Mechanism’s focus on evolving terrorism trends and the role of parliaments in supporting international community actions. Piazzi pointed out the complexity of combating terrorist financing, exacerbated by AI and emerging technologies misused by terrorist groups.
On behalf of the Cyprus Delegation to PAM, MP Andreas Pasiourtides emphasized the importance of the UNOCT session in addressing the global challenge of terrorist financing, advocating for knowledge exchange and joint efforts as key defenses.
Vice-President of the Qatar Advisory Council, Abdulla Nasser Al Subaey, addressed participants via video message, reinforcing the collaborative spirit of the event. The 8th Meeting of the Coordinating Mechanism of Parliamentary Assemblies of UNOCT is scheduled for Wednesday.