80 nations attend terror financing conference in Paris

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Updated 25 April 2018
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80 nations attend terror financing conference in Paris

  • Terror attacks have become increasingly low-cost since the 9/11 atrocities in the United States in 2001
  • While the Daesh group faces imminent defeat on the battlefield in Syria where the last pockets of its fighters are holding out, experts warn that its ideology will live on

PARIS: Ministers from 80 countries and nearly 500 experts gather in Paris from Wednesday for a conference on combating the financing of terror groups such as Daesh and Al-Qaeda, French officials said.
Attacks have become increasingly low-cost since the 9/11 atrocities in the United States in 2001, particularly in recent years when followers of Daesh have used vehicles and guns as their main weapon of choice.
But French authorities remain concerned about a huge war-chest amassed by Daesh between 2014 and 2016 when it ruled over large swathes of oil-rich territory in Iraq and Syria.
A French presidential official briefing journalists on Tuesday said that Daesh income was estimated at about $1 billion (820 million euros) a year.
“It has been moved since, at least in part. It’s probably somewhere,” the official said on condition of anonymity. “These groups are very skilful in using sophisticated techniques to move financial resources around.”
The idea of the two-day conference, which will close with a speech by French President Emmanuel Macron on Thursday afternoon, is to share expertise and good practice that can be implemented internationally.
The Daesh group faces imminent defeat on the battlefield in Syria where the last pockets of its fighters are holding out, but experts warn that its ideology will live on.
Some terror experts, including Peter Neumann from King’s College in London, have argued recently that the fight against the financing of terror groups has been ineffective since 2001.
In a report last year entitled “Don’t follow the money,” he argued that low-cost terror attacks were easy to mount and jihadist groups could transfer money easily without using the international banking system.
He will make a speech at the start of the second day of the conference on Thursday which will take place at the Organization for Economic Co-operation and Development in Paris.


Key allies quit Duterte Cabinet to run in midterm elections

Updated 56 min 1 sec ago
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Key allies quit Duterte Cabinet to run in midterm elections

  • More than 18,000 government posts are up for grabs, including 12 seats in the 24-member Senate

MANILA, Philippines: Close allies of Philippine President Rodrigo Duterte have resigned from his Cabinet to run in elections next year that will test his popularity and could determine his future political influence.
Among those running in the May 13 midterm elections are Duterte’s former foreign secretary, who staunchly defended him from international criticism of his deadly anti-drug crackdown, his spokesman, his political adviser and a longtime aide. Aspirants have up to Wednesday to register as candidates.
More than 18,000 government posts are up for grabs, including 12 seats in the 24-member Senate, which stymied efforts by Duterte allies this year to rapidly open the country’s constitution to amendments and allow a shift to a federal system of government.