Typologies
TERRORIST FINANCING IN WEST AND CENTRAL AFRICA
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Terrorism is of growing concern for the international community which, in the recent past, has witnessed an increasing number of attacks at the hands of terrorist groups. West and Central Africa are particularly vulnerable to terrorism. The continuing violence and conflict in this area since 2010 has sparked concerns that the threats from terrorism could derail hard-won economic gains, contribute to political instability and undermine future development. Communities in these areas have experienced the devastating impact of extremist violence from a multiplicity of terrorist groups.
However, as we have experienced with ISIL, in a more globalised world, the threats from a regional conflict can spread to impact the global community. The regional and potentially global impacts of terrorism, highlights the importance of the international community taking all necessary steps to find ways to deprive terrorist organisations of their funding. Terrorist organisations are all different in their nature and purpose but they all require resources for self-maintenance, facilitation and funding of various types of attacks. Terrorist financing (TF) may encompass complex financing structures used to conduct large scale attacks or simplistic models used to support small cells and fund smaller attacks.
This report is intended to update the FATF/GIABA report on Terrorist Financing in West Africa (October 2013) and to extend the study to the Central African region. It finds that while the 2013 study is still relevant, the scale and nature of terrorist groups within the region have changed and this has had an impact on financing strategies as well. The report considers the possible funding sources (the threats), particularly in relation to Boko Haram and groups linked to Al-Qaeda, including Al-Qaeda in the Lands of the Islamic Maghreb (AQIM) and its affiliates, and also considers potential means to finance terrorism and other contextual factors (the vulnerabilities). It reveals a number of threats and vulnerabilities that are specific to the region including the prevalence and profitability of cattle rustling as a key feature of rural and cross-border criminality in the Chad Basin. It also highlights the role of cash, including foreign currency, in TF in the region.
The report breaks down the threats into confirmed and suspected sources of funding. It appears that Boko Haram is mostly funded locally, while Al-Qaeda affiliates may also be benefiting from foreign donations. While there are indications that terrorist organisations are associated with criminal organisations and with organised crime in the region, there is limited evidence to support these alleged links.