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Financial terrorism (also known as economic terrorism) most commonly refers to the secret manipulation of a nation's economy by state or non-state actors. [2] However, economic terrorism may also be unconcealed, arguably in the name of economic sanctions. [3] Economic terrorism targets civilians of nations or groups in the pursuit of political ...
The economics of terrorism is a branch of economics dedicated to the study of terrorism.It involves using the tools of economic analysis to analyse issues related to terrorism, such as the link between education, poverty and terrorism, the effect of macroeconomic conditions on the frequency and quality of terrorism, the economic costs of terrorism, and the economics of counter-terrorism. [1]
[4] [5] A simple definition proposed to the United Nations Commission on Crime Prevention and Criminal Justice (CCPCJ) by terrorism studies scholar Alex P. Schmid in 1992, based on the already internationally accepted definition of war crimes, as "peacetime equivalents of war crimes", [6] was not accepted. [7] [8]
In 1992, terrorism studies scholar Alex P. Schmid proposed a simple definition to the United Nations Commission on Crime Prevention and Criminal Justice (CCPCJ) as "peacetime equivalents of war crimes", but it was not accepted. [35] [36] In 2006, it was estimated that there were over 109 different definitions of terrorism. [37]
As financial crime has become more complex and financial intelligence is more important in combating international crime and terrorism, money laundering has become a prominent political, economic, and legal debate. Most countries implement some anti-money-laundering measures.
Economic sanctions or embargoes are commercial and financial penalties applied by states or institutions against states, groups, or individuals. [ 1 ] [ 2 ] Economic sanctions are a form of coercion that attempts to get an actor to change its behavior through disruption in economic exchange.
The United States legal definition of terrorism excludes acts done by recognized states. [10] [11] According to U.S. law (22 U.S.C. 2656f(d)(2)) [12] terrorism is defined as "premeditated, politically motivated violence perpetrated against noncombatant targets by subnational groups or clandestine agents, usually intended to influence an audience".
In general terms, the Order provides a means by which to disrupt the financial support network for terrorists and terrorist organizations by authorizing the U.S. Department of State, in consultation with the U.S. Departments of the Treasury and Justice, to designate and block the assets of foreign individuals and entities that commit, or pose a significant risk of committing, acts of terrorism.