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What is Terrorist Financing?


Both terrorists and money launderers may use the same methods to move their money in ways to avoid detection, such as structuring payments to avoid reporting and use of underground banking.


However, whereas funds destined for money laundering are derived from criminal activities, terrorist financing may include funds from perfectly legitimate sources. Concealment of funds used for terrorism is primarily designed to hide the purpose for which these funds are used, rather than their source.


Terrorist funds may be used for operating expenses, including paying for food, transportation and rent, as well as for the actual material support of terrorist acts. Terrorists, similar to criminal enterprises, covet the secrecy of transactions regarding their destination and purpose.

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Specialists in FICA compliance for accountable and reporting institutions, we work throughout South Africa with a focus on Cape Town, Johannesburg, Durban and Pretoria.

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