The Singapore Terrorism Threat Report 2024 revealed that terrorist organizations still rely heavily on cash transfers to raise funds, while cryptocurrency adoption remains low.
- 🚨 The threat of terrorism increases due to global instability.
- ISIS still receives most of its funding through cash and the informal value transfer system (hawala).
- Bank transfers, currency services and cash transfers are the main methods.
- There are no signs of an imminent attack, but online self-radicalization is the main threat.
- Pro-ISIS media group in the Philippines called for cryptocurrency donations in February.
- Financing terrorism is a crime, 13 people have been convicted since 2015.
- MAS increases the risk level for cryptocurrency exchange platforms from medium-low to medium-high.
What do you think about this strengthening of regulations? Comment! 💬#Crypto#Blockchain#Finance#Regulation #Singapore
