Speaking before the UNSC meeting in New York on Friday (Manila time), Foreign Affairs Secretary Teodoro Locsin Jr. stressed that “money is the lifeblood of terrorism” and highlighted Philippine initiatives to combat the illicit financing of terrorism.
Philippines backs UN resolution to combat terror financing
Janvic Mateo (The Philippine Star) - March 31, 2019 - 12:00am

MANILA, Philippines — The Philippines has co-sponsored a resolution of the United Nations Security Council (UNSC) calling on member-states to step up efforts to combat and criminalize the financing of terrorists and their activities.

Speaking before the UNSC meeting in New York on Friday (Manila time), Foreign Affairs Secretary Teodoro Locsin Jr. stressed that “money is the lifeblood of terrorism” and highlighted Philippine initiatives to combat the illicit financing of terrorism.

Locsin said the Philippines has identified terrorist financing as a separate crime and is working on amendments to the Human Security Act to address the exploitation of cyberspace for terrorism.

And while remittance agencies have been used as a channel for terrorist financing, Locsin said the challenge is to balance the requirements of counter-terrorism and the needs of overseas Filipino workers.

He also cited the need to monitor funds going to non-profit organizations and the relationship between terrorism and the illegal drug trade.

The UNSC unanimously adopted the resolution, which called on member-states to ensure that their laws and regulations make it possible to prosecute and penalize, as serious criminal offenses, the provision or collection of funds, resources and services intended to be used for the benefit of terrorist organizations or individual terrorists.

It also demanded member-states ensure that their counter-terrorism measures are in compliance with their obligations under international law, including international humanitarian law, international human rights law and international refugee law. 

The resolution also called upon member-states to conduct financial investigations into terrorism-related cases and to more effectively investigate and prosecute cases of terrorist financing, applying criminal sanctions as appropriate.

Vladimir Voronkov, Undersecretary-General of the UN Office of Counter-Terrorism, consolidated past council texts while at the same time focused on new types of terrorist financing.

He identified three priorities, including expanding focus to cover intelligence sharing, risk assessments and public-private partnerships; system-wide awareness-raising and the development of a comprehensive approach to the problem; and working closely with the inter-governmental body which sets standards for combating money laundering, terrorist financing and other related threats to the integrity of the international finance system.

TERROR FINANCING TERRORISM UNITED NATIONS SECURITY COUNCIL
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