The CIA on terrorism and tech

On June 16, 2016, the Director of the CIA testified before the Senate Select Committee on Intelligence in respect of the Islamic State (ISIS), terrorism and technology generally. Here is an executive summary: The CIA said there there has never been a time when there is such a “dizzying” array of national security issues and [...]

France to limit cash and ‘anonymous’ transactions; introduces new law; et mobilise contre le terrorisme avec l’investissement de €736 million

€736 Million Investment in Counter-Terrorism Infrastructure Le gouvernement français a décrété une “mobilisation générale” contre le terrorisme, annonçant la création de 2,680 emplois et le déblocage de €736 millions sur trois ans. Le Premier ministre a présenté des mesures visant à mieux lutter contre les filières suspectes, notamment via internet et dans les prisons, évaluant [...]

Counter-Terrorist Financing Presentation in Toronto

With the Association of Certified Anti-Money Laundering Specialists, we’re organizing a special presentation on “Terrorist Financing Concerns & Risks in Ontario for the Financial Services Sector” on February 24, 2015, in Toronto. The presentation will be given by the OPP’s Deputy Commissioner, Scott Tod, and Deputy Director of FINTRAC, Barry MacKillop, and is sponsored by [...]

France calls for stronger counter-terrorist financing laws

Consensus on Supranational Risk Assessment  As part of the 4th Anti-Money Laundering Directive approval process in the European Union (the “4th AMLD“), the Council of the European Union’s President yesterday issued declarations and proposals for the regulation of anonymous financial transactions that are transacted on new fintech products. The communication from the President included Declarations [...]

UK to prohibit insurance payments to terrorists for ransom and jail insurance executives for up to 14 years for terrorist financing on conviction

Ransom payments The UK government’s proposed Counter-Terrorism and Security Bill 127 (the “Counter-Terrorism & Security Act“), now at Second Reading in the UK Parliament, will prohibit insurance companies from making ransom payments to terrorists and terrorist organizations. The provision would amend §17, the counter-terrorism financing part of the UK Terrorism Act 2000, to make it an [...]

ISIS puts terrorist financing back on global political agenda and financial institutions can expect significant scrutiny and fines for non-compliance

“Money is the oxygen of terrorism” Colin Powell, Former Secretary of State. The recent ISIS actions in Syria and Iraq have put counter-terrorist financing back at the top of the global political agenda. The key issue at the Paris “International Conference on Peace and Security in Iraq” today was terrorist financing – how the ISIS [...]

Germany lists ISIS as terrorist group; ISIS planning cyber attack on critical infrastructure

ISIS Listed as Terrorist Group & readies for critical infrastructure attack on West Christine Duhaime, B.A., J.D., Financial Crime and Certified Anti-Money Laundering Specialist Follow @cduhaime On Friday, Germany  listed ISIS as a terrorist organization. The listing bans all activities that support ISIS in Germany, including displaying the organization’s flag. In terms of anti-money laundering [...]

US Treasury Undersecretary for Terrorism Discusses Banks, Bitcoin, AML & Sanctions

US Treasury Undersecretary for Terrorism on Bitcoin, Banks, AML and Regulation The US Treasury Undersecretary for Terrorism and Financial Intelligence, David S. Cohen, discussed the risks of digital currencies and Bitcoin in a Bloomberg talk in New York City today. Mr. Cohen said the regulation of Bitcoin coming down the pipe may require financial transparency [...]

Canada announces regulation of bitcoin, digital currencies and Internet gambling sites under anti-money laundering laws

Federal government to regulate bitcoin and other digital currencies As was widely anticipated, the federal government announced today that it will amend federal legislation to require the regulation of digital currencies like bitcoin in order to eliminate the potential risks of digital currencies being used for terrorist financing and money laundering. Interestingly, the proposed legislation [...]

From Russia with Love – the elusive female terrorist and Russia’s sweeping new anti-terrorism laws

“From Paris With Love”  In a weird case of real life emulating fiction, the mass hunt for the alleged prospective suicide bomber, the so-called “black widow” of Chechnya, Ruzana Ibragimova, before the Sochi Olympic Games is playing out a little like the film “From Paris With Love“, the fictional story of a beautiful female terrorist [...]