Counter-terrorism financing (CTF), also known as combating the financing of terrorism (CFT), refers to efforts and activities aimed at preventing the funding of terrorist organizations.
Key points:
Terrorist groups may receive funding from both illegal and legal sources, including direct contributions or business activities.
CTF measures are designed to detect, prevent, and report the flow of funds intended to support terrorism.
CTF regulations work closely with Anti-Money Laundering (AML) frameworks, as the methods used to move criminal funds and finance terrorism often overlap.
Financial institutions such as Intergiro are required to have policies and procedures in place to monitor and report suspicious activities related to both money laundering and terrorist financing.
Intergiro's CTF Approach
Intergiro applies a risk-based approach to identify and manage terrorist financing risks by conducting thorough customer due diligence (KYC), continuous transaction monitoring, and regular business-wide risk assessments.
All employees receive ongoing training on counter-terrorism financing obligations, and any suspicious activity is promptly reported to authorities in accordance with regulatory requirements.
Intergiro maintains robust systems and processes to ensure compliance with national and international CTF regulations, as well as effective cooperation with relevant authorities.
Why is it important?
Helps protect the financial system from being used to facilitate criminal activity and terrorism.
Required by law in regulated financial institutions to comply with local and international regulations.
Fosters trust and integrity in financial services.