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Countering the Financing of Terrorism in the Conditions of Digital Economy

  • Anastasia AndrianovaEmail author
Conference paper
Part of the Advances in Intelligent Systems and Computing book series (AISC, volume 908)

Abstract

Terrorist activity is a particularly dangerous form of criminal activity that poses a threat to all mankind, along with environmental disasters and wars. The problems of countering the financing of terrorism are relevant in the context of the fight against crime for Russia and for the whole world. The financing of terrorism has long roots, but now the methods of financing are largely developed through the global Internet and the development of digital economy technologies. The continuous improvement of the Internet’s capabilities not only opens up additional prospects for the development of the world community, but is also accompanied by the emergence of a number of new global threats.

Traditional forms of financing terrorism are transformed using modern digital technologies - cryptocurrency and virtual currencies, crowdfunding, fundraising, social networks and Telegram channels are actively used by terrorist organizations. In a digital economy, terrorist acts can have an impact on government operations and finances, the cost of securities and the investment climate, significantly reduce tax revenues, help increase the share of military spending in the state budget, and have a devastating effect on the state and society as a whole.

The development of effective solutions to the problem of countering the financing of terrorism is one of the priority areas of scientific research. The article presents the results of an assessment of the main existing methods of financing terrorist activities and elaborated proposals for countering their proliferation and reducing the risks of activating new modern sources of enrichment of criminal communities.

Keywords

Anti-money laundering Bitcoin Crowdfunding Cryptocurrency Digital economy Hawala Shadow economy Terrorism financing 

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Copyright information

© Springer Nature Switzerland AG 2020

Authors and Affiliations

  1. 1.Moscow Academy of the Investigative Committee of the Russian FederationMoscowRussia

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