Melbourne conference to discuss exploitation of non-profit sector, virtual assets to fund terrorism

New Delhi [India], Nov 6 (ANI): The exploitation of not-for-profit sector for pumping money for terror activities in various countries and use of virtual assets for terrorism will be among the main items on the agenda of International Conference on Fighting Terrorist Financing meeting scheduled to be held in Melbourne on Thursday and Friday.

The Indian team will be led by Minister of State for Home Affairs G Kishan Reddy and will include National Investigation Agency (NIA) chief YC Modi and officials of IB, Financial Intelligence Unit and External Affairs Ministry. The theme of the conference is 'No Money for Terror'.

There have been global concerns about not-for-profit organizations being used by terror outfits to fund terrorist activities in various countries and India has been raising the issue at multiple global platforms and has taken action against such organisations.

According to the agenda, on the first day the countries will do a reassessment of evolving global and regional terrorism threat environment and financing method, including exploitation of emerging technologies and non-profit organisations.

India will give a presentation on the issue. Countries will also discuss importance of global and multilateral co-operation in combating terror financing.

The next day, countries will discuss government and industry commitment to cooperate on safeguards against terror financing in development of new technologies.

The countries will also focus on future aspects of finding ways to strengthen and prevent the exploitation of the non-profit sector for terrorism including through risk assessment education and outreach activities.

Discussions are also likely to be importance of effective public and private sector collaboration to make better use of available resources and develop innovative techniques to combat terrorism financing.