UN Security Council on terror funding

In a major move towards putting an end to the terror funding, the UN Security Council has adopted unanimously a resolution tabled by France which asks the countries to ensure that their domestic laws and regulations establish serious criminal offences to prosecute those who collect funds or provide economic resources to terror organisations or terrorists.

The resolution which can be enforced with sanctions, also urges the member countries to establish financial intelligence units to strengthen efforts to track down terrorism financing and to share information on their investigations.

India has welcomed the development but also expressed doubts about the intents of terror-supporting nations like Pakistan who would find some excuse or the other to escape its enforcement in true spirit. After the initiative on money laundering in early seventies, perhaps this is the first major step to end financial support to the terrorist groups.