The preferred type of financial intelligence for early detection of terrorist financing activities

Abstract

Purpose This paper aims to inform the readers about the preferred type of financial intelligence for early detection of terrorist financing activities. Design/methodology/approach Literature review methodology was adopted to find the existing approaches of financial intelligence and logical reasoning was applied to sort out what type of financial intelligence is more preferable for early detection of terrorist financing activities. Findings It was found that proactive financial intelligence executed through financial intelligence tools is the most preferred type of financial intelligence for early detection of terrorist financing activities. Research limitations/implications The research will pave the way for further research on how to design financial intelligence tools for the early detection of terrorist financing activities. Practical implications The financial intelligence units will use the preferred type of financial intelligence for the early detection of terrorist financing activities. Social implications It will help to establish peace in the society by thwarting terrorist conspiracies because early detection of terrorist financing through financial intelligence tools will stop the flow of funds to and from terrorists. Originality/value The originality of the paper lies in distinguishing proactive financial intelligence from reactive financial intelligence.

Business intelligence tools in finance: A review of trends in the USA and Africa

“…Moreover, the impact of green finance and financial intelligence in combating terrorism financing is also a critical area of study, as indicated by (Falcone & Sica, 2019), (Gowhor, 2021), and (Ünal & Altun, 2020). These studies emphasize the role of financial intelligence and green finance in addressing long-term investment needs and early detection of terrorist financing activities, which are pertinent to the finance sector.…”