The face of terrorism has changed over recent years. The nature of the attacks has become simpler with the emergence of terrorist cells and the lack of the essential intricate networks and command structures seen with organised groups. Hence terrorist financing needs will vary depending on the case in question.
Funding is required for specific attacks and also to support the broader TF needs of terrorist organisations with the latter demanding significant funds. Funding may or may not come from legitimate sources. Terrorist organisations have demonstrated an impressive ability and shown great adaptability when disseminating funds all over the globe to finance their objectives.
Amongst other efforts, outreach programmes to the private sector are of crucial importance to the battle against terrorist financing with the consequent forging of links and increased communication between different sectors of the industry. Enhanced financial intelligence is of paramount importance and this may be further facilitated through outreach programmes.
The Proceeds of Crime Act 2015 defines terrorist financing as; the use of funds or other assets, or the making available of funds or assets, by any means, directly or indirectly for the purposes of terrorism; or the acquisition, possession, concealment, conversion or transfer of funds that are (directly or indirectly) to be used or made available for those purposes, and cognate expressions shall be construed accordingly.