Counter Terrorist Financing

Counter Terrorist Financing (CTF)

Since the attacks of 9/11, international organizations, responding largely to US-led efforts, issued a series of measures mandating that jurisdictions curtail the passage of terrorist finance, including UN Security Council Resolution 1373, the FATF-GAFI Forty+Nine Special Recommendations on Terrorist Finance, and significant initiatives by the G-8 and the European Union. Each of these resolutions made clear in broad terms that nations must take more action to inhibit the passage of terrorist finance through domestic financial institutions.

In practice, while terrorist groups face new risks in laundering their money, they continue to have a variety of mechanisms by which to finance their activities, involving a range of both banking and non-banking financial institutions. Further progress in protecting against international terrorist finance is unlikely without international action to require customer identification and verification, know-your-customer, and the ability to trace funds across jurisdictions.

The GDC specializes in broad and specific data sets that span a countries population and give insight into an individual. By refreshing your data on an ongoing basis you can be sure that you have the best chance of preventing terrorist funding and in a worse case scenario have the ability to track a money laundering crime should one take place.

The Global Data Company can also consult the risk management processes your company employs to help guide you to comply with various international regulations.

Please contact us for further information.

Counter Terrorist Financing

Recent estimates suggest that US$500 billion to $1 trillion is laundered worldwide annually by drug dealers, arms traffickers, and other criminals.

Source: U.S. General Accounting Office

Money laundering operations are increasingly performed through more complex techniques, by individuals or groups that are connected to organised crime in Sweden and its international counterparts.

Source: FATF/OECD

ter·ror (têr'ær) n.
"Violence committed or threatened by a group to intimidate or coerce a population, as for military or political purposes."

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Phone: +61 3 9863 9194 Fax: +61 3 9863 9189
Email: enquiries@globaldatacompany.com

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The Global Data Company can help you identify citizens in over 110 countries and has the ability to access over 3 billion records. Our solutions are designed to ensure that you know your customer (KYC) and your business is compliant with new AML / CTF and other financial regulation changes. For any Identity and Age verification you need GDC Integrity.