New kinds of technology are being used for terror financing and recruitment, PM Modi said

A cost must be imposed on countries that support terrorism, Prime Minister Narendra Modi said on Friday, in a clear reference to Pakistan and China.

Addressing the 'No Money for Terror' Ministerial Conference on counter-terrorism financing in New Delhi, he pointed out that certain countries support terrorism as part of their foreign policy while some others support it indirectly by blocking action against terrorists.

"There must be a cost imposed upon countries that support terrorism. Organisations and individuals that try to create sympathy for terrorists must also be isolated," Prime Minister Modi stated.

"There can be no ifs and buts entertained in such matters," Prime Minister Modi went on to say, adding that the world needs to unite against all kinds of overt and covert backing of terror.

In a clear reference to China, he said, "Sometimes, there are indirect arguments made in support of terrorism to block action against terrorists".

It is worth noting that on several occasions, China has thwarted international efforts to take action against terrorists, including Lashkar-e-Taiba (LeT) chief Hafiz Saeed.

"There is no good terrorism and bad terrorism. It is an attack on humanity, freedom and civilisation. It knows no boundaries”, Prime Minister Modi pointed out.

Warning against any ambiguity in tackling terrorism, Prime Minister Modi said “the intensity of the reaction to different attacks cannot vary based on where it happens. All terrorist attacks deserve equal outrage and action".

Commenting on the changing dynamics of terrorism in light of advancing technology, Prime Minister Modi said “new kinds of technology" are being used for terror financing and recruitment.

Challenges from the dark net, private currencies and more are emerging, he said, stressing on the need for a uniform understanding of new finance technologies. However, he also warned against demonising technology while asking for technology to be used for tracking, tracing and tackling terrorism.

Highlighting the complex environment, the Prime Minister said that the United Nations Security Council, Financial Action Task Force, Financial Intelligence Units, and the Egmont Group, are boosting cooperation in the prevention, detection and prosecution of illegal fund flow.

The Prime Minister noted that the framework is helping the war against terror in multiple ways over the past two decades. “This also helps in understanding terror funding risks” he added.

PM Modi emphasised the significance of this conference by stating that terrorism affects all people and that its long-term effects are terribly challenging for the underprivileged and the local economy.

"Be it tourism or trade, nobody likes an area that is constantly under threat," he added.

Addressing the gathering, PM Modi emphasised the significance of the fact that conference is being held in India and recalled that India saw terrorism's dark face long before the other world.

PM Modi further described the conference as a chance for the international community to communicate with India and its citizens, who have been steadfast in combating terrorism.

"We consider that even a single attack is one too many. Even a single life lost is one too many. So, we will not rest till terrorism is uprooted," he added.

The two-day conference will provide a unique forum for participating nations and organisations to discuss the efficacy of the current global counterterrorism financing regime and the steps necessary to address new challenges.

It is being attended by about 450 delegates from across the world, including Ministers, Heads of Multilateral organisations and Financial Action Task Force (FATF) Heads of Delegations.