Counter Terrorist Financing, or ‘CTF’ can tend to be the poor relation of Financial Crime training. The assumption tends to be that no, or very little useful training can be undertaken, due to the difficulty in detecting the relatively small amounts used to fund terrorist attacks, within the financial system.
This is only partly true. in one sense, in the absence of other information, no amount of vigilance or systems expertise is likely to identify that a $1,000 payment is destined for Terrorist purposes. But these payments are often only half the story. At the back end of a lethal terrorist finance chain can be ownership structures, networks, transactions and asset holdings which financial services staff need to be able to recognize.
Click above to access one of Lessons Learned’s award-winning audio-visual slideshows dealing with financing strategies used by terrorist groups.