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| About CCFT |
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The Consortium for Countering the Financing of Terrorism (CCFT) is a public and private sector partnership, open to government institutions, the financial industry, the research community and other stakeholders. The CCFT is an autonomous institution endorsed by the S. Rajaratnam School of International Studies at Nanyang Technological University, Singapore, the Association of Banks in Singapore, and the Ministry of Home Affairs, Singapore.
The CCFT traces its origin to capacity building efforts among key stakeholders involved in countering the financing of terrorism. This includes joint initiatives such as seminars, training courses and personnel exchanges. These initiatives have synergized core competencies, spread awareness and built capacity in countering the financing of terrorism.
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1) Develop a network of knowledge, capabilities and personal contacts in order to foster a stronger relationship between the public and private sector
2) Facilitate capacity building among policy makers, law enforcement agencies, the financial sector, academic institutions, and key technology providers
3) Create long term and sustainable capacity for CFT research
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Access to finance is crucial to terrorist organizations. Without finance they cannot distribute propaganda, recruit new members, train their members or plan and execute attacks. Despite stringent security and financial measures, terrorists have still been able to manage their funds quickly and anonymously across the globe. It is by creating an environment hostile for terrorist groups to raise, move, store and use funds, that terrorism can be discouraged, deferred, and ultimately defeated.
Terrorist financing involves many jurisdictions, global markets and stakeholders. It cannot be countered by any single agency; only collaborative partnership can effectively meet this challenge. The Consortium for Countering the Financing of Terrorism is launched in this spirit. |
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The CCFT runs seminars, group workshops and other collaborative activities. The goals of the CCFT are to:
- Provide an avenue for the public and private sectors to discuss, analyze and exchange information
- Encourage participation and information sharing with other concerned agencies
- Regularly produce and publish relevant CFT literature
- Propose policy recommendations to relevant government and intergovernmental institutions on CFT issues
- Strengthen research capability through a research fellowship program
- Exchange specialists and staff between the public and private sector
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