Methods to combat terrorism financing and money laundering through a banking network

Background and scope:

 The banking system is the most common way to finance terrorism. According to the Convention of combatting of the Terrorism, and after joining it, every country has a duty to combat this crime, and the first step in this path of criminalization is to take legal, regulatory and operational measures. The purpose of this research is to explain the ways in which the banking system can be used to prevent the financing of terrorism.

It is applied in terms of purpose and descriptive and analytical in nature. The method of collection is also library-based and the tool for collecting information is the type of catch. The research data were analyzed in a qualitative manner.

The current banking system does not have the required performance in today's usual practices. This inefficiency is due to the weak banks 'supervision of customers, the weakness of the system of identification and the banks' efforts to attract deposits at any cost.

To combat the money laundering and financing of terrorism, overseeing the implementation of laws, regulations, and the writing of the Anti-Terrorism Financing executive guideline, further monitoring of the identity of high-risk clients is necessary in line with the actions of the Special Financial Action Task Force.