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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]
This Act includes a definition of terrorism (see above). [104] Some insurance companies exclude terrorism from general property insurance. An insurance company may include a specific definition of terrorism as part of its policy, for the purpose of excluding at least some loss or damage caused by terrorism.
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]
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".
The earliest use of the word terrorism identified by the Oxford English Dictionary is a 1795 reference to tyrannical state behavior, the "reign of terrorism" in France. [22] [page needed] In that same year, Edmund Burke decried the "thousands of those hell-hounds called terrorists" who he believed threatened Europe. [23]
Often linked in legislation and regulation, terrorism financing and money laundering are conceptual opposites. Money laundering is the process where cash raised from criminal activities is made to look legitimate for re-integration into the financial system, whereas terrorism financing cares little about the source of the funds, but it is what the funds are to be used for that defines its scope.