UNODC and OSCE Join Forces to Bolster Montenegro's Counter-Terrorism Financing Efforts and Virtual Asset Investigations
4-6 June, Budva, Montenegro: In today's interconnected world, any country, regardless of its size, can serve as a strategic hub in the global financial system and may become vulnerable to exploitation by terrorist funding networks. This includes the jurisdictions in the Western Balkans, whose proactive participation in efforts to disrupt terrorist financing is needed to promote stability and peace worldwide.
With this in mind, the Organization for Security and Cooperation in Europe (OSCE) and the United Nations Office on Drugs and Crime (UNODC) have been working together during the past years to roll out a comprehensive training program on countering the financing of terrorism (CFT) in the Western Balkans. This year, the program is being implemented in Montenegro.
Following an initial training of trainers (TOT) held in May in Vienna, from 4-6 June, OSCE and UNODC gathered a group of 16 national practitioners for a CFT Foundation Course. The three-day course, held in Budva, aimed at improving the skills of the participating officials to conduct effective financial investigations in counter-terrorism areas.
During the training course, 6 local Montenegrin trainers who completed the TOT in Vienna, alongside 3 international experts, delivered the course, engaging their colleagues from the National Security Agency, Customs Administration, Tax Administration, Financial Intelligence Unit and Police Directorate, in theoretical sessions, practical exercises, and interactive discussions.
The course featured sessions on global, regional, and national terrorist financing threats. Participants explored how criminals and terrorist groups raise, move, store, and utilize funds, gaining insights into financial flows and potential red flags for terrorist financing. They learned about the Hawala system; an informal money transfer method often used in terrorist financing. Various interactive case studies allowed participants to apply their knowledge to real-world scenarios.
Given the increasing use of cryptocurrencies for illicit activities, including terrorist financing, the training paid special attention to virtual assets. By understanding the mechanisms behind virtual assets, the participating practitioners will be better able to identify and disrupt these financial channels in the future.
“There is a growing recognition that robust defenses are needed against increasingly sophisticated financial crimes in the digital age. Enhancing skills in this area is vital for maintaining peace and security and ensuring the integrity of financial systems”, noted Koen Marquering, UNODC Deputy Regional Representative for South-Eastern Europe.
The training program is implemented in partnership with OSCE, and supported by UNODC’s Global Programme against Money Laundering, Proceeds of Crime and the Financing of Terrorism (GPML) and the Regional Office for South-Eastern Europe (ROSEE). The program aligns with UNODC’s Regional Programme for South-Eastern Europe (RPSEE) in the context of UNODC’s wider engagement to address organized crime, money laundering and cybercrime in the region.
Over a period of two years, the program’s courses will delve into CFT analysis, investigation and disruption. Each set of courses is designed to enhance the expertise and operational capabilities of national practitioners in these specialized areas, ensuring a well-rounded and robust approach to combating the financing of terrorism. As part of the program, UNODC supports virtual asset training with funding from the Government of Norway.