Union Home Minister Amit Shah hit the nail on the head when he described terror financing as more dangerous than terrorism itself. Addressing a session at the third ‘No money for terror ministerial conference on counter-terrorism financing’ yesterday (November 18), Shah expressed serious concern over terrorists finding new ways of financing their violent activities and radicalizing the youth. He spoke about the use of virtual assets such as cryptocurrency by the merchants of terror who are trying to conceal their identities through Darknet.
Shah was right in underscoring the need for striking at the financial power of terrorists as it would be impossible for them to spread violence and hatred without money. It was from this perspective that he expressed concern over the transformation of terrorism from ‘dynamite to metaverse’ and ‘AK-47 to virtual assets’ and called upon every country in the world to come together to formulate a common strategy against it.
Financing of terrorism has global ramifications as it impacts different countries in different ways. The most worrying aspect of the problem is that it weakens the economy of countries, including those which have nothing to do with acts of terror either directly or indirectly. Even such neutral countries become victims of the nefarious designs of terrorists because they find it easy to use them to carry out their activities.
For example, a neutral country like Nepal has been used by terrorists of all hues and definitions for the simple reason that its lax security and easy-to-bend trade rules make it a safe haven for them. In the past even some fugitive mafia dons of Mumbai have taken shelter in countries like Nepal and Thailand.
Similarly, Afghanistan remains the favourite target of global terrorists, especially organizations like the Taliban because it happens to be a haven of poppy growers. According to one estimate, the area under opium poppy cultivation in Afghanistan in 2022 cropping season was 233,000 hectares. Opium cultivation continues to be concentrated in the southwestern parts of the country, accounting for around 73% of the total production.
Opium is the best source of terror funding as the contraband drugs made out of it are sold in different parts of the world. Protected by terrorists, poppy growers have been carrying out their activities without any fear. They only have to keep their masters ( read terrorists) happy. This is like Maoists protecting and sponsoring cannabis cultivation in some parts of India, including Odisha.
So, it is high time that governments around the world strike at the financial roots of terrorism. But this needs collective resolve and effort, which is not always possible in today’s divided world. As Shah in a veiled attack on Pakistan and China, rightly pointed out that there were countries that “seek to undermine, or even hinder, our collective resolve to fight terrorism.” It is our collective responsibility to ensure that such elements do not succeed in their design to shelter terrorists and promote terrorism.
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