Combating terrorism:
Consistency of standards vital
Prof. G.L. Peiris tells Cambridge University
symposium :
The potential of groups linked to terrorist organizations to
destabilize financial markets and even national economies is
considerable, and requires the focused attention of governments and
civil society, Professor G.L. Peiris, Minister of External Affairs, said
in Cambridge, England, this week.
Professor G.L. Peiris |
He was addressing the 29th Cambridge International Symposium on
Economic Crime at Jesus College, University of Cambridge.
Prof. Peiris and Attorney-General of England and Wales Dominic Grieve
Q.C. were invited to deliver keynote inaugural addresses at this event
which brought together judges, lawyers, academics, diplomats and leaders
of the business community and civil society from 90 countries.
Minister Peiris referred to an incident which had occurred in a bank
in Colombo in the early 1980s, to illustrate the global implications of
malpractices in respect of foreign exchange, committed by persons in a
distant country collaborating with terrorist organizations in pursuit of
their objectives. In this instance a dealer working for a bank in
Colombo had purported wrongfully to use the bank’s authority to transfer
large sums of money from one country to another, and after a
considerable period his misconduct came to light by chance when
particulars relating to these transactions were reflected in the bank’s
computers on a day when he happened to be on leave.
Further inquiries revealed that the cumulative effect of these
transactions had been to enable access by a terrorist organization to
substantial resources accumulated in Western Europe over a sustained
period for purchasing arms and equipment. Sophisticated techniques
involving paperless transactions had been resorted to for attaining
these ends, high lighting the need for exceptional vigilance to ensure
that modern technology is not misused for criminal purposes.
Citing the post – conflict situation in Sri Lanka as a further
example, Minister Peiris said that the government has to be on its guard
with regard to the risk that groups pursuing terrorist aims may try to
use inward remittances to secure a dominant stake in corporations or
other entities controlling vital sectors of the economy such as ports
and harbours, power and energy, irrigation systems and highways. The
danger that insidious means and front organizations may be exploited,
has constantly to be borne in mind, the Minister emphasized.
These considerations have vital bearing on international financial
markets as well, he said.
‘This is borne out by a development last week, in which a 100 –
strong international gang engaged in credit card fraud, hacking into
bank accounts across the globe through the internet from Malaysia and
using the information obtained in this way to secure fake credit and
debit cards in India, had been arrested by the police in the Indian city
of Bangalore, he said. He underscored the potential for a relatively
small economy to be placed in jeopardy by the use of such means which
will have a ripple effect on neighbouring economies too. Manipulation of
a stock market of modest dimensions is also a distinct danger, he added.
In dealing with a society in a period of transition from conflict to
stability, the international community needs to demonstrate sensitivity
both to the increasing sophistication of the modalities of financial
fraud and to the nuances of the local situation, Prof. Peiris commented.
Presentign an overview of Sri Lanka’s current situation to the
Cambridge Symposium, he referred to the multiple initiatives by the
government in a variety of fields to promote the objectives of
reconciliation and reintegration as a counter to the re-emergence of
terrorism, by dealing effectively with issues relating to the
resettlement of internally displaced persons, the rehabilitation of ex-combantants,
the restoration of livelihoods and incomes in areas of the country
affected by military action and revival of the political and electoral
processes, especially at the grass roots level.
He said that the international community, in seeking to protect the
integrity of financial systems and the stability of societies, must
co-ordinate their initiatives with governments committed to combating
terrorism and promoting reconciliation in their countries. The
multi-pronged strategies currently being implemented in Sri Lanka, in
the context of a highly visible revival of the economy and the
strengthening of financial institutions, have a practical value
transcending the specific features of the country situation and
reflecting global imperatives in respect of protection of financial
systems against terrorist-linked activity, he continued.
Above all, the minister emphasized, subjective approaches marked by
inconsistency and selectivity should be avoided in prescribing patterns
of behaviour for societies in such a transition phase. It is of crucial
importance to reject political gradations within the spectrum of
terrorism and to refrain from responses founded on subjective judgment
and thinly veiled expediency, he said.
Prof. Peiris is a former Distinguished Fellow of Christ’s College,
Cambridge, and Quondam Smuts Visiting Fellow in Commonwealth Studies in
the University of Cambridge.
Among the other speakers at the symposium were Justice Elena de
Nolasco, Judge of the Supreme Court of Argentina, Justice Yoram Danziger,
Judge of the Supreme Court of Israel, Sundaresh Menon, Attorney-General
of Singapore, and Professor Avrom Sherr, Director of the Institute of
Advanced Legal Studies in the University of London.
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