[2016-04-10] BS:'Disrupting terror finance vital to counter-terrorism'

'Disrupting terror finance vital to counter-terrorism'

http://www.business-standard.com/article/news-ians/disrupting-terror-finance-vital-to-counter-terrorism-116041000327_1.html

Disrupting communication and finance of terror outfits are vital to tackling terrorism as such acts succeed due to movement of "men, money, material and messages", US-based terror expert Amit Kumar has said.

... Kumar, who has studied public administration and philosophy, apart from international business, also mentioned the role of bitcoin -- virtual currency -- as a new phenomenon being used for transaction of money by terrorists and other criminals.

Kumar gave the example of a 17-year-old tech-savvy youth, Ali Shukri Amin, a resident of Virginia, who was held by US agencies last year on charges of providing instructions to Islamic State supporters on using bitcoins to conceal financial donations.

Kumar said that effective monitoring of bitcoins can be done, particularly by the banking system.

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