MEPs are proposing ways to cut off sources of terrorism financing. They are calling on EU countries to more actively share financial intelligence and track transactions more closely.

data protection

defence (0821)

economic policy

terrorism

Finance

Fight against terrorism: cutting cash flows to jihadists

https://api.multimedia.europarl.europa.eu/documents/20125/17052983/NO1-PUB-180228-JIHA-EN.srt

with authorities carrying out arrests and drug seizures,

thwarting attacks and putting terrorists like Salah Abdeslam on trial.

The European Parliament is already tackling money laundering and organised crime,

but Members are now calling for more ways

to investigate and track down terrorist funding.

We've gone from large-scale terrorism through economic investments

 like with the Twin Towers in New York, to terrorism that has a big impact 

but is only financed on a short timescale, so it's almost amateur.

 The main step proposed by Parliament is to create an intelligence platform

 that will forge better links between financial institutions, intelligence agencies 

and the judiciary, in order to cut cash flows to terrorists.

The monitoring of anonymous debit cards and traditional ways of transferring money,

 such as the informal Arabic custom of hawala, should also be improved. 

It doesn't mean putting an end to hawala. Those who use it have to keep a record,

 in the same way that buyers of gold have a record. 

They've got to say who gives them gold, how much, and who it's for.

This money comes, at least partly, from illicit trade in goods, firearms, 

drugs or cultural objects. Parliament wants to step up the monitoring

 of suspicious organisations involved in this trade. 

Members also call for tighter surveillance of educational centres 

and places of worship with potential terrorist ties.