APD | Philippines co-sponsors united nations’security council resolution to combat terrorism financing

By APD writer Melo M. Acuña

MANILA,March.30(APD)– The Philippines co-sponsored the United Nations’ Security council (UNSC) Resolution 2462 on combating the financing of terrorism.  This was announced by Foreign Secretary Teodoro L. Locsin, Jr. at the United Nations’ General Assembly to affirm the Philippines’ resolve to fight terrorism.

Speaking before the UN Security Council last Thursday, March 28, Secretary Locsin said “money is the lifeblood of terrorism” and highlighted Philippine initiatives to combat the illicit financing of terrorism.  He explained the Philippines has a law the defines “terrorist financing as a separate crime and is working on amendments to the Human Security Act to address the exploitation of cyberspace for terrorism.”

The Philippines has adopted the 2018-2022 National Anti-Money Laundering and Countering the Financing of Terrorism Strategy.

He admitted remittance agencies have been used as a channel for terrorist financing but added the challenge is to balance the requirements of counter-terrorism and the needs of Overseas Filipino Workers, as remittances account for 9.8 percent of the country’s gross domestic product (GDP).

He underscored the need to monitor funds going to non-profit organizations and the relationship between terrorism and the illegal drug trade.

The Department of Foreign Affairs statement said the Philippines’ counter-terrorism efforts are anchored on respecting human rights because of the country’s overriding responsibility to protect the law-abiding against lawless and the innocent against those who threaten their safety and well-being.  

(ASIA PACIFIC DAILY)