Efforts to counter terrorism financing in the region require an urgent need for deeper intelligence cooperation, strengthening domestic and regional frameworks and better understanding of high-risk terrorism financing channels. An effective anti-money laundering and countering the financing of terrorism, AML/CFT is crucial in addressing the issue. Underscoring the matter at the opening of the Counter Terrorism Financing Conference, this morning, Dato Seri Paduka Awang Haji Hamdan bin Haji Abu Bakar, Deputy Minister at the Prime Minister's Office explained, the international AML/CFT standards set by the Financial Action Task Force, FATF integrates counter-terrorism financing measures in its forty recommendations, and all countries are expected to implement effective measures to bring their national systems in compliance to these standards.
The keynote speech by Mr. Alistair Sands, Director for the Australian Transaction Reports and Analysis Centre covers regional terrorism financing risk that Brunei Darussalam faces, as well as outcomes of the recent Counter-Terrorism Financing summit held in Kuala Lumpur, Malaysia recently. The conference was attended by 200 participants including government officers and representatives from the private sector. Also present were Dato Paduka Ahmaddin bin Haji Abd Rahman, Permanent secretary at the Ministry of Finance who is also the joint chairman of the national anti-money laundering and counter terrorism financing committee, Awang Mohd Riza bin Dato Paduka Haji Mohd Yunos and Datin Dayang Elinda binti Haji C.A. Mohamed, Permanent Secretaries at the Prime minister's office.
Source: Radio Television Brunei