Tagged: risk assessment

Terror Finance Report – stopping the money

The Australian Government TRAC has released  a risk assessment reportMoney Laundering and Terrorism Financing Risk Assessment”  (pdf). The key statistics on Store Value Cards or as the report “SVC”.

SVC’s or ‘Stored Value Cards’, allow money to be debited or payed into an electronic account and the used just like a VISA or other credit card, to purchase goods, particularly over internet retail services. The SVC’s are often bought with ‘on-selling’ of goods which buy more SVC cards from which the code is then sent to recipients who withdraw cash money from automatic teller machines or cash points.

 

This type of finance model  which is used to supply Daesh, or “sponsor soldiers” has been a subject for previous reports such as the 2015 FATF Report (pdf)

And, 2012 report from the Australian Treasury (pdf).

The disruption and constriction of finance reaching Daesh will be a major factor towards the final depreciation of their existence. Without a cash flow Daesh will fall into anarchy.