The Failure of Counter Measures
Chapter 9: Conclusion
International efforts at co-operation on most major crime issues over a period of a decade are beset with difficulties, which interact and are interrelated. Terrorist financing is no exception. Simplifying and summarizing the causes of such difficulties is no easy task. In the context of the sudden and cataclysmic impact of the terrorist attacks of 9/11 and the perceived necessity for speedy international reaction, the difficulties and failures of the international efforts against terrorist financing are complex in both their cause and effect. The reasons for the failure of international efforts against terrorist financing in the first decade of the twenty-first century are due to three main factors. The first is the inherent legal difficulties contained in the definition of terrorism and terrorist financing, compounded by the sensitive nature of the intelligence of financial data held by financial institutions and accessible to law enforcement agencies only under well defined terms and constraints. The second is the delay by international law enforcement and financial regulatory authorities in recognizing certain potential modus operandi being utilized by terrorist groups for terrorist funding and illicit transfer of funds.
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