Some 70 countries have promised to take new measures to prevent the funding of

terrorist organisations, at the end of a two-day conference in Paris.

The countries, including many European and Arab states, pledged to fully criminalise financing travel and recruitment for terrorism purposes, even when it could not be linked to any specific act of terrorism.

The countries promised action to tackle risks associated with less traceable payment methods such as cash, prepaid cards and the hawala remittance system common in some African countries.

Steps should be taken to ensure anti-terrorism financial standards were implemented in relation to non-profit organisations, while not discouraging civil society activities.

The participants said there should be robust guidelines for crowdfunding platforms.

Private sector companies should “consider enhanced due diligence when operating in high-risk sector[s] and jurisdictions” to avoid the risk of funding terrorism in their supply chains.

They said States and international organisations should be able to take measures against countries that the international Financial Action Task Force said were not fulfilling their commitments on combating money laundering and terrorist financing.

More than 450 experts from around the world and representatives of 72 countries and international organisations took part in the Paris conference.

Minsters, judges, intelligence and financial officials were among the participants, according to French sources.

French officials had said they hoped for progress on reducing anonymity in financial transactions.

Organisations such as al-Qaeda and Islamic State, while they operate largely in cash, are making increasing use of anonymous transaction mechanisms such as prepaid cards and digital wallets. (dpa/NAN)

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