This paper is divided into three parts. Firstly, the paper presents evidence how terrorism financiers are able to operate via the Internet and social media platforms. Secondly, it enhances the understanding of the use of Defence against Terrorism Financing (DATF) Suspicious Activity Reports (SARs) by highlighting the current weaknesses in the United Kingdom’s (UK) legislative approach. Thirdly, to consider the extension of ‘DATF’ SARs to payments made via social media platforms. The paper advocates that the exchange of information model between financial institutions, supervisory agencies and the National Crime Agency via the Joint Intelligence Money Laundering Task Force (JMLIT) must be extended to social media platforms.
Ryder, N. (2019, March). Counter-terrorist financing, cryptoassets, social media platforms, and suspicious activity reports: a step into the regulatory unknown. Paper presented at Centre for Financial and Corporate Integrity - Research Seminar, Coventry Law School, Coventry, England