FATF flagged cash-driven terror funding pattern ahead of Paris attacks

NEW DELHI: Three weeks before the Paris attacks, the inter-governmental Financial Action Task Force ( FATF) in its report flagged a suspicious terror funding pattern possibly related to ISIS in France, where money amounting to 600,000 euros (about Rs 4.2 crore) in cash was transferred by terrorists through a telecommunications company.

FATF also had information that “cash couriers” were being sent from Belgium. According to the report, “Cash continues to be a prevalent aspect of terrorist operations. While funds may be raised in a number of ways, often they are converted into cash to be taken to conflict zones.”

Follow @ETDefence Twitter handle for comprehensive coverage on other buzzing Defence stories

In one of the case studies of Belgium, three nationals had declared 90,000 euros in cash to customs officials at the airport in Brussels. The funds apparently originated from Germany as part of humanitarian aid and a Belgian coordinating body of a radical Islamic organisation transferred money to these accounts. Belgian intelligence authorities, according to the report, suspected that this money was going to be used to support terror activities.