Singapore's government adopted a new strategy to counter the financing of terrorism, according to a joint press release of the country's Ministry of Home Affairs, Ministry of Finance and Monetary Authority, published on Friday
MOSCOW (Pakistan Point News / Sputnik - 07th October, 2022) Singapore's government adopted a new strategy to counter the financing of terrorism, according to a joint press release of the country's Ministry of Home Affairs, Ministry of Finance and Monetary Authority, published on Friday.
"Singapore's key TF (terrorism financing) threats are posed by regional and international terrorist groups as well as radicalised individuals, as they raise, move and use financial resources for terrorism purposes," the message read.
The strategy covers five key areas of action against financing of terrorism, which are coordinated risk identification, strong legal framework, robust regulatory regime, decisive law enforcement actions and international cooperation.
The measures listed in the strategy are of vital importance for the country's security, since Singapore as a financial and transport hub is "exposed to terrorism activities," according to the press release.
CNA broadcaster reported that Singapore has witnessed a number of cases of terrorism financing in recent years. A Bangladeshi citizen working in Singapore donated to support a terrorist group, while a Singaporean national gave money to a man to help him get to Syria and fight on the side of terrorists.
