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Terrorism financing and the threat to financial institutions

Jeffrey Simser (Civil Remedies for Illicit Activities Office, Ministry of the Attorney General, Toronto, Canada)

Journal of Money Laundering Control

ISSN: 1368-5201

Article publication date: 11 October 2011




The purpose of this paper is to explore countering the financing of terrorism and its impact on financial institutions.


Actual examples of terrorist financing are considered, as well as the international and Canadian framework for financial institutions.


The system for countering the financing of terrorism can be improved to lower costs and risks to financial institutions and to enhance actionable intelligence. A balance must be sought between the objective, actionable intelligence and the mechanism used to advance that objective.

Research limitations/implications

There is limited research on terrorism financing and little statistical data.

Practical implications

Some simple and modest reforms to the framework are suggested; policy makers need to consider their goals and revaluate the existing framework.


There is little writing in this area. This paper would be of interest to financial institutions, regulators, law enforcement and the intelligence community.



Simser, J. (2011), "Terrorism financing and the threat to financial institutions", Journal of Money Laundering Control, Vol. 14 No. 4, pp. 334-345.



Emerald Group Publishing Limited

Copyright © 2011, Emerald Group Publishing Limited

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