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States must work together to stop terrorist funding

The Assembly has urged European countries to co-operate and co-ordinate more closely to stop Daesh and other terrorist groups from accessing funding.

Approving a resolution, based on the report prepared by Phil Wilson (United Kingdom, SOC), the Assembly said such groups were ready to use all methods to raise money, including extortion, exploitation of natural resources, smuggling of antiquities, drug trafficking, looting of banks or cultural property and kidnapping for ransom.

It urged states to carry out cross-border law enforcement operations, share intelligence, develop new technologies and work with international bodies to tackle terror financing.

The resolution calls on the member States of the European Union to implement the proposals made in the 2016 Action Plan for Strengthening the Fight against Terrorist Financing, in particular to: bring virtual currency exchange platforms under the supervision of the Anti-Money Laundering Directive.