MODERN METHODS OF FINANCING TERRORISM IN A GLOBAL AND INTERCULTURAL SOCIETY: CRYPTO-CURRENCY
MODERN METHODS OF FINANCING TERRORISM IN A GLOBAL AND INTERCULTURAL SOCIETY: CRYPTO-CURRENCY

Summary/Abstract: In the global and intercultural society we live in today, cyber security has become, in the last twenty years, an important subject on the agenda of states worldwide due to the growing number of technical innovation and the way they are “monopolizing” an increasingly large part of our lives, whether we talk about personal data, industrial espionage or access to sensitive information. The article examines the way crypto-currencies can be used as a new method for financing terrorism, in the 21st century, given the ongoing changes, challenges and oportunities of the society we currently live in, especially regarding the cyber security area. The paper provides a short analysis of how crypto-currencies were created, how they work and the way different states relate to this expanding phenomenon in an attempt to understand why they represent an “attraction” for terrorist activities, with a focus on their primary characteristics such as anonymity for transactions and users, fast transactions and reliability. Capitalizing the experiences and lessons learnt so far from the analysis of the traditional methods of financing terrorism, the paper focuses on key dimensions like: the way new payment technologies pose an emerging vulnerability that may increase over time and the global policies and legal framework that should emerge due to this phenomenon as well as the new digital realities imposed by it, in a society that is becoming global due to technology. At the same time, increased attention should be paid to the need of moving forward towards the new paradigm of the modern cyber security and intelligence and also to the role of technology as a key factor present in all stages of society today.

• Details
• Contents