Responding to Money Transfers by Foreign Terrorist Fighters
Person-to-person money transfers have emerged as a possible method for foreign terrorist fighters (FTF) to fund their activities. Financial institutions that offer money transfers to conflict zones—while providing the local population with much-needed access to cash—require sophisticated compliance programmes to counter this FTF threat. Such programmes rely heavily on tactical-level law enforcement targeting information but also require a strategic-level response that builds a typology out of known cases. As financial institutions develop typologies and improve their capabilities, these companies have a unique opportunity to provide new and increasingly useful leads to law enforcement agencies. Ultimately, the success of responding to FTF money transfers will be determined by the quality of interaction between government agencies and private sector compliance programmes.