New Delhi, Nov 18 (IANS): Addressing the first session of the 'No Money for Terror' ministerial conference on Friday, Home Minister Amit Shah said that the transformation of terrorism from 'dynamite to metaverse' and 'AK-47 to virtual assets' is definitely a matter of concern for different countries of the world.
Shah underlined the need for joint efforts of all countries to formulate a common strategy against it.
Representatives of 78 countries and organisations are attending the conference in Delhi to discuss ways to deal with terrorism and its financing.
The Home Minister said: "Terrorism is undoubtedly the most serious threat to global peace and security. But I believe that terror financing is more dangerous than terrorism itself, because the 'Means and Methods' of terrorism are nurtured from such funding.
"The financing of terrorism weakens the economy of countries of the world," Shah said.
Shah added that India has recognised that terrorism cannot and should not be linked to any religion, nationality or group.
Shah said the country has made substantial progress in strengthening the security infrastructure, legal and financing systems to combat terrorism.
"Terrorists are constantly finding new ways to to carry out violence, radicalise youth and raise financial resources," Shah said, adding that "the Darknet is being used by terrorists to spread radical content by concealing their identities".
Shah added that the use of virtual assets like crypto-currency has also seen an increase for which solutions should be found.
Shah emphasised on the fact that technological revolution has enabled different forms and manifestations of terrorism.
He said: "Today, terrorists and terrorist groups understand the nuances of modern weapons and information technology, and the dynamics of the cyber and financial space very well, and use them."
The Home Minister said that India believed international coordination and real-time and transparent cooperation among nations to be the most effective strategies to deal with terrorism.
"The emerging trends of illegal trade of narcotics, and the challenge of narco-terror, have given a new dimension to terror financing. In view of this, there is a need for close cooperation among all nations," Shah added.
"To achieve the goal of 'No Money for Terror', the global community must understand the 'Mode - Medium - Method' of terror financing and adopt the principle of 'One Mind, One Approach' in cracking down on them," concluded Shah.