3Takeaways for banks-EUROPOL 2023 TESAT Report
EUROPOL issued EU Terrorism Situation and Trend Report 2023. The report??distinguishes between the following types of terrorism, based on ideological preferences : 1?? jihadist terrorism1; 2??right-wing terrorism2 ; 3?? left-wing and anarchist terrorism3; 4?? ethno-nationalist and separatist terrorism? .
??In 2022, 28 completed, failed or foiled terrorist attacks were recorded in the EU. ? 16 attacks were completed, out of which 13 attributed to left-wing and anarchist terrorism, 2 to jihadist terrorism, and 1 to right-wing terrorism.
??There were 4 fatalities, 2 from jihadist terrorist attacks and 2 from a right-wing terrorist attack.?
?? 380 individuals were arrested by law enforcement authorities in 2022 for terrorism-related offenses. Most of the arrests, 266, were carried out following investigations into jihadist terrorism, of which it is worth mentioning 93 in France, 46 Spain, 30 Germany,?16 Austria and 4 in Romania. ?? Of the 380 arrests, 14 concerned terrorism financing, all related to jihadist terrorism.?
?? Here is in my opinion the Top3 Takeaways for banks:
1/?? Funds to finance terrorist activities across the whole ideological spectrum are attained through various ways: â‘ legal business structures, â‘¡ donations, â‘¢membership fees and â‘£ criminal activities. The most commonly reported offenses used to finance terrorism are drug trafficking, extortion, kidnapping, robbery, theft, human trafficking and document fraud. Economic and financial crimes are also significant sources of funds, and include tax fraud, tax evasion, social benefit fraud, and the illegal use of public funds.??
2/ ??The most common ways to transfer funds remain the traditional banking system, money transfer services, and informal value transfer systems such as hawala. However, the traditional banking system is less used in the EU where control mechanisms and risk profiling are strict. Online payment platforms are also reported as a way of raising and transferring funds.? When sent to conflict zones, cash is usually withdrawn from money transfer offices by money mules who deliver it to the final beneficiary.?
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3/ ??Terrorist organizations increasingly use digital currencies and virtual assets service providers (VASPs), as these provide a higher level of anonymity for donors and recipients. However, the use of digital currencies remains marginal among the means of terrorist financing. As regards jihadism, IS and al-Qaeda and their affiliates appear to have stepped up the use of VAs, especially cryptocurrencies, for fundraising and the movement of funds in recent years, possibly as a result of an increased knowledge of VAs among members of jihadist terrorist groups. Right-wing extremists also resort to funding platforms operating with cryptocurrencies.
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1) jihadist terrorism defined as a violent sub-current of Salafism, a revivalist Sunni Muslim movement that rejects democracy and elected parliaments, arguing that human legislation is at variance with God’s status as sole lawgiver,?ex : al-Qaeda and Islamic State
2) right-wing extremists seek to change the entire political, social and economic system into an authoritarian model, ex: neo-Nazism and neo-fascism
3) left-wing and anarchist terrorism - seek to trigger a violent revolution against the political, social and economic system of a state, in order to introduce socialism and eventually establish a communist and classless society, ex: Red Brigades and Revolutionary Organization 17 November
4) ethno-nationalist and separatist terrorism- seek to carve out a state for themselves from a larger country or annex territory from one country to that of another, ex: IRA and PKK