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Zahid: Hit Terrorists Where It Hurts Most - Financing

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KUALA LUMPUR - A pre-requisite for effectively countering a terror network is to cut off all forms of financing, said Datuk Seri Dr Ahmad Zahid Hamidi (pic).

The Deputy Prime Minister said without funds and economic resources, the entire operation of a terrorist organisation will cease.

"The terrorists comprise multi-nationalities, who are collaborative and united.

"Secondly, they use technology effectively and this is seen through their effective online presence in radicalising and recruiting new members to pursue their agenda," he said in his keynote address at the 3rd Counter-Terrorism Financing Summit hosted by Bank Negara here.

Ahmad Zahid said the cornerstone of counter-terrorism financing strategies is political will and commitment which have to be achieved at domestic and regional levels, in view of the transnational nature of terrorism.

He said Malaysia stressed on the importance of  the "soft approach" in fighting terrorism and its financing activities, with emphasis on prevention and rehabilitation.

"This is operationalised through the Integrated De-redicalisation Module for Terrorists, which is administered by various agencies including the Royal Malaysian Police and Prisons Department.

"It has seen a success rate of 97%, where 282 out of 289 terrorists who underwent the module between 2001 to 2012 were disengaged from terrorist activities," he said.