G20 Condemns Terrorism and Strengthens International Cooperation

G20 Condemns Terrorism and Strengthens International Cooperation

VoM News Desk | September 9, 2023 | 03:59 PM IST | Breaking News, Politics | Follow on Google News

G20 Condemns Terrorism and Strengthens International Cooperation. Image/PTI

Unified Stand Against Terrorism

Under India’s presidency, the influential G20 alliance issued a resounding condemnation of terrorism in all its forms. The leaders pledged to enhance international cooperation to prevent terrorist groups from finding safe havens, conducting operations, and receiving financial, material, or political support. The declaration underscores the criminal and unjustifiable nature of all acts of terrorism, regardless of their motivations, and reaffirms the commitment of all religions to peace.

Combating Terrorism and Protecting Human Rights

The G20 leaders stressed that effective counterterrorism measures, support for terrorism victims, and the protection of human rights are not conflicting objectives but rather mutually reinforcing. They advocated for a holistic approach based on international law to effectively counter terrorism, emphasizing the importance of denying terrorists safe spaces, operational freedom, recruitment opportunities, and financial support.

Addressing Illicit Arms Trafficking

The G20 expressed concern about the illicit trafficking and diversion of small arms and light weapons and recognized the critical role of international cooperation in countering these phenomena. This includes implementing export and import controls and enhancing tracing mechanisms.

Support for Financial Action Task Force (FATF)

The G20 leaders committed to supporting the resource needs of the Financial Action Task Force (FATF) and FATF-style regional bodies. They encouraged others to do the same, particularly for the next round of mutual evaluations. The leaders remain dedicated to the global implementation of revised FATF standards on beneficial ownership transparency, aiming to deter criminals from concealing and laundering ill-gotten gains.

Reinforcing Global Asset Recovery Efforts

The G20 welcomed the ongoing work of the FATF in enhancing global efforts to recover criminal proceeds, especially through revising standards on asset recovery and strengthening global asset recovery networks.

Regulation of Virtual Assets

G20 member states emphasized the importance of countries developing and implementing effective regulatory and supervisory frameworks to mitigate risks associated with virtual assets, aligning with FATF standards. Special attention was given to addressing risks related to terrorism financing, money laundering, and proliferation financing in the context of virtual assets. The G20 expressed support for FATF initiatives to accelerate the global implementation of its standards, including the ‘travel rule,’ and its exploration of risks associated with emerging technologies such as decentralized finance (DeFi) arrangements and peer-to-peer transactions.

In summary, the G20’s united front against terrorism and commitment to strengthening international cooperation reflects a shared dedication to combating one of the most significant threats to global peace and security

VoM News Desk

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