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Fighting Terrorist Financing with Banking Data Analytics: Insights on terrorist cell indicators

Financial institutions play a vital forensic role in the disruption of financial crime and money laundering as they hold immense amounts of data; however, it is felt that their effective involvement in the identification and disruption of terrorist intentions and activity remains elusive. 

In the context of the European Commission’s Action Plan for strengthening the fight against terrorist financing, Forum Europe, in partnership with SAS and Analysis International, organiseed this half day workshop focusing on the effective use of banking data analytics to enable the financial sector to play a more robust and accountable role in protecting the European community from extremism and terrorism.

Key areas for discussion included:

• Detection of the radicalisation process identified by a person’s financial footprint
• The effective use of banking data and software to trace and track terrorists through their financial movements
• Improving oversight and internal review processes within financial institutions to recognise and close down vulnerable product lines and payment mechanisms

A selection of photos from the workshop are now available to view here.