Financial Crime World

Combating Financial Terrorism: A Top Priority for Bulgaria in Effort to Ensure World Peace and Security

The Ongoing Battle Against International Terrorism

Preventing violent extremism from taking root and neutralizing those who advocate for terrorist acts is a crucial task in the ongoing battle against international terrorism. Bulgaria, a committed participant in various global counter-terrorism initiatives, has been working tirelessly to enhance its capabilities to prevent and combat terrorism.

Bulgaria’s Commitment to Combating Financial Terrorism

Through its membership in the United Nations, European Union, NATO, Council of Europe, and as part of the Global Coalition to Combat ISIL (Daesh), Bulgaria has demonstrated its commitment to combating financial terrorism. To achieve this goal, the country is implementing a comprehensive counter-terrorism strategy that includes:

  • Adopting new legislation providing a legal framework for responding to terrorist threats and prosecuting foreign terrorist fighters.
  • Implementing its National Strategy and National Action Plan to Combat Radicalisation and Extremism, adopted in 2015, which focuses on preventing radicalisation and extremism.

Implementation of Sanctions and Criminalising Terrorist Financing

Bulgaria is directly implementing sanctions imposed by the United Nations Security Council (UNSC) against ISIL (Daesh) and Al-Qaeda. Additionally, the country has criminalised terrorist financing as mandated by UNSCR 1373 (2001) and 2178 (2014).

Recognition for Bulgaria’s Efforts

As a result of its efforts, Bulgaria has earned recognition for submitting rigorous and comprehensive reports on the implementation of UNSC counter-terrorism resolutions. The country’s determination to combat financial terrorism is crucial in the fight against international terrorism, underscoring its commitment to ensuring world peace and security.

Conclusion

Bulgaria’s commitment to combating financial terrorism is a vital step towards ensuring world peace and security. By implementing a comprehensive counter-terrorism strategy and adhering to international sanctions and resolutions, Bulgaria is demonstrating its dedication to preventing and combating terrorism.