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

Tweet 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 […]

Another Australian Bank De-Risks and Exits Remittance Business Over Terrorist Financing Regulatory Risks; Financial Inclusion and Shadow Banking Seen As Repercussion

Tweet Fourth banks closes remittances businesses Another bank in Australia, the Westpac Bank, has announced it will close its remittance business division next week over the difficulty of complying with counter-terrorism laws. By de-risking and closing its remittance division, the Bank is terminating the bank accounts of all of its business customers who operate money […]

Is the ATM Global Network Unwittingly Used for Terrorist Financing?

Tweet We’re pleased to announce that Christine Duhaime is giving a presentation on the issue of “How the ATM Network Globally is Unwittingly Used for Terrorist Financing & Ways to Prevent it” at the 2015 Interac Conference in Ottawa. After a spouse of a member of the Islamic State Tweeted to the world from ar-Raqqah, […]

Seminar on Terrorism Risks in Canada & Stopping Funding of Terrorism

Tweet On behalf of the Association of Certified Anti-Money Laundering Specialists in Canada, we’re pleased to announce a wine & cheese on the important topic of understanding terrorist threats in Canada and ways to stop terrorist funding on December 3, 2014 in Vancouver. The session is aimed at providing guidance to financial institutions, money services […]

Court in Canada says despite notice of surveillance, violent offender has expectation of privacy over texts in public casino

Tweet Expectation of privacy In an odd decision out of Canada, a provincial level Supreme Court has ruled that a violent offender gambling at a public casino has an expectation of privacy when using his cellular phone to text despite the fact that gamblers are notified of being under surveillance when entering casinos. The decision […]

US veterans file billion dollar claims against global banks over terrorist financing and sanctions avoidance and claim that the conduct continues today

Tweet Anti-Terrorism Act filing against global banks Yesterday, symbolically the day before Remembrance Day, several plaintiffs filed suit against a number of global foreign banks based in the United States under the Anti-Terrorism Act (the “ATA“), including HSBC Holdings Plc, Barclays, Standard Chartered Bank and the Royal Bank of Scotland. The plaintiffs are seeking damages that could […]

Canada introduces anticipated Protection of Canada From Terrorists Act

Tweet New Anti-Terrorism Measures The Government of Canada released its proposed new anti-terrorism legislation today, entitled the Protection of Canada From Terrorists Act, Bill C-44 (the “PCFT“). The material part of the PCTF amends the Canadian Security Intelligence Service Act and is quite short. It does as follows: Clarifies that the Canadian Security Intelligence Service (“CSIS“) has […]

Canada to adopt terrorism law to spy on homegrown terrorists – will it be challenged?

Tweet New proposed terrorism surveillance law The government of Canada will announce proposed legislation tomorrow to increase its counter-terrorism measures in response to the national security threats from the Islamic State. The proposed law will give more power to CSIS agents in Canada to detect and track persons associated with, or suspected to be associated […]

Islamic State – ISIS funded by sales of oil, captured women and taxes Christians must pay to stay alive; and how banks are used to finance terrorism

Tweet Terrorist groups are not a financial island This article has been updated and replaced with the White Paper on ISIS’ Terrorist Financing available here.

Australia faces ISIS terrorist threat; closes MSB over suspect terrorist financing

Tweet AUSTRAC unregisters MSB Australia’s financial intelligence unit, AUSTRAC, has suspended the registration and activities of a money services business (MSB) in Australia over questions arising from potential terrorist financing. It is the first time AUSTRAC has suspended a reporting entity. The MSB, operating under the trade name Bisotel Rieh Pty Ltd., failed to report […]