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NMFT conference

  • IASbaba
  • November 17, 2022
  • 0
Science and Technology
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In News: The Third Ministerial ‘No Money for Terror (NMFT)’ Conference will be hosted by the Ministry of Home Affairs, with representatives of 75 countries and global bodies.

  • Previous conferences were held in Paris (in 2018) and Melbourne (in 2019).

About NMFT conference:

  • Aim: To discuss key issues including use of dark web, virtual assets, crowdfunding platforms, Money Transfer Service Scheme and hawala networks by terrorist entities
  • To discuss global trends in terrorism and terrorist financing, the use of formal and informal channels of funding terrorism, emerging technologies and terrorist financing, and requisite international cooperation to address related challenges
  • The declaration acknowledged the “essential” role of the Financial Action Task Force (FATF) in this regard and asked member states to enhance the traceability and transparency of financial transactions.

About Dark Web:

  • The dark web is the part of the World Wide Web (or the Internet) that isn’t indexed by search engines.
  • It uses a technology called “onion routing,” which protects users from surveillance and tracking through a random path of encrypted servers.
  • Such as , when users access a site through Tor, their information is routed through thousands of relay points that cover the user’s tracks and make their browsing virtually impossible to trace.
  • People use the dark web for both legal and illegal purposes.
  • Illegal uses include buying and selling of illegal drugs, weapons, passwords, and stolen identities, as well as the trading of illegal pornography and other potentially harmful materials as well as malware, DOS attacks, espionage, etc.
  • The dark web’s anonymity has also led to cybersecurity threats and various data breaches.

MUST READ:  FATF

Source: Indian Express

Previous Year Question

Q.1) With reference to Web 3-0, consider the following statements: (2022)

  1. Web 3-0 technology enables people to control their own data.
  2. In Web 3-0 world, there can be blockchain based social networks.
  3. Web 3-0 is operated by users collectively rather than a corporation.

Which of the statements given above are correct?

  1. 1 and 2 only
  2. 2 and 3 only
  3. 1 and 3 only
  4. 1, 2 and 3

 

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