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Abstract

Terrorism has become one of the most complex problems the world faces today in an ever-changing global environment. Against the backdrop of evolving terrorism, the funding landscape of terrorist financing has developed. Methods used by terrorist before 9/11 are far different to the methods used today where the financial system opens up opportunities for terrorism (Keatinge & Danner 2019). With the mixture of sources and methods available for the use for terrorist activities have created a mixture of challenges at an international level. Much so the proliferation of terrorism is become more present than ever (Neumann, 2017).
The objectives of this research are to review the sources and methods that terrorist use to finance their activities of terrorism. This dissertation will explore the literature using a number of secondary data important to the questions raised that were drawn from, journals, books, policies as well as from official materials. First, this paper explores the nature of terrorism and phenomenon of terrorism financing. Secondly, this dissertation presents evidence of how terrorism financiers are operating via a number of sources and methods. Lastly this paper sets out the response and challenge that the United Kingdom face with dealing with the movement of funds by highlighting the legislative approach from a financial intelligence perspective.
A review of the literature reveals a number of methods that have become problematic for counter-terrorism strategies. This study also concludes that terrorist financing is exporting a number of established sources to rise funds and use complex methods to move funds within the financial systems. Moreover, the informal financial systems remain the biggest challenge to obstruct terrorist activities. Still the UK have seen challenges in their response with stopping terrorist exploiting the financial system. The pressure of reporting suspected terrorist activity due to the regulated requirements to report suspected activity of terrorism has become under review due to the high volume. This has seen unnecessary reporting that can result in terrorist financing being missed or unreported where the National Crime Agency receive non-related reports.

Course: Risk and Security Management - BSc (Hons) - C1565

Date Deposited: 2021-11-05

URI/permalink: https://library.port.ac.uk/dissert/dis13740.html