Addressing the primary session of the No Money for Terror Conference in New Delhi, Shah additionally stated that Lashkar-e-Taiba (LeT) and Jaish-e-Mohammed (JeM), each primarily based in Pakistan, continued to unfold terror and expressed concern over the rising affect of al Qaeda and the Islamic State (IS) within the South Asian area.

“Terrorism is, undoubtedly, the most serious threat to global peace and security. But I believe that the financing of terrorism is more dangerous than terrorism itself, because the means and methods of terrorism are nurtured from such funding. Furthermore, the financing of terrorism weakens the economy of countries of the world,” he instructed the gathering of delegates from 77 nations and 16 worldwide companies.

Shah stated that in the previous couple of years, India succeeded in cracking down on terror financing, primarily based on six pillars: Strengthening the legislative and technological framework; making a complete monitoring framework; actionable intelligence sharing mechanism and strengthening of the investigation and police operations; provision for confiscation of property; stopping misuse of authorized entities and new applied sciences and establishing worldwide cooperation and coordination.

“We have seen that some countries protect and shelter terrorists. Protecting a terrorist is equivalent to promoting terrorism. It will be our collective responsibility that such elements never succeed in their intentions,” the house minister stated.

“India condemns terrorism in all its forms and manifestations. We believe that no reason can justify an act, such as taking innocent lives. I express my sympathy for the victims of terrorist attacks all over the world. We should never compromise with this evil,” he added.

Shah stated the regime change in Afghanistan after withdrawal of American troops final 12 months and the rising affect of al Qaeda and IS have emerged as a major problem to regional safety, making terror financing extra critical.

“Three decades ago, the whole world has had to bear the serious consequences of one such regime change, the result of which we all have seen in the horrific attack of 9/11. In this background, last year changes in the South Asian region are a matter of concern for all of us,” Shah stated. He was seemingly hinting on the withdrawal of Soviet Union troops from Afghanistan in Nineteen Nineties, which plunged the area into turmoil and led to the rise of the Taliban.

He particularly named the LeT and JeM for spreading terror and sought motion towards terror secure havens. “We should never ignore terrorists’ safe havens or their resources. We also have to expose the double-speak of such elements who sponsor and support them,” the house minister stated.

Shah additional stated that the specter of terrorism “cannot” and “should not” be linked to any faith, nationality or group. “We also recognise that the threat of terrorism cannot and should not be linked to any religion, nationality, or group. To confront terrorism, we have made significant progress in fortifying the security architecture, as well as the legal and financial systems”.

He stated terrorists have been always discovering new methods to hold out violence, radicalise youth and lift monetary assets and gave instance of the darknet, which is getting used to unfold radical content material and conceal such identities.

Underlining why there was a have to develop a standard worldwide technique to cope with terrorism, Shah stated, “Today, terrorists and terrorist groups understand the nuances of modern weapons and information technology, and the dynamics of the cyber and financial space very well, and use them. This transformation of terrorism from ‘dynamite to metaverse’ and ‘AK-47 to virtual assets’ is definitely a matter of concern for the countries of the world. And we all have to work together to formulate a common strategy against it.”

The residence minister, throughout a bilateral assembly with Bangladesh’s residence minister Asaduzzaman Khan on the sidelines of convention, raised the problems of assaults on temples and minorities in Bangladesh in addition to border administration, in accordance with a senior officer, who didn’t wish to be named.

At least 450 delegates from 77 nations aside from India and 16 multilateral companies equivalent to Interpol, Financial Action Task Force (FATF) and Europol are attending the convention. Delegates are anticipated to debate international traits in terror financing, terrorism, the usage of social media, the darkish net for funding terror organisations, and the nexus between terrorists and organised crimes.