This paper examines kidnapping as a source of terrorist finance, arguing that a new approach is needed if terrorist groups are not to continue to benefit from multimillion-dollar cash injections.
This paper outlines three different options which would help to ‘close the gap’ between the commitments of some governments and their actions in response to the kidnapping of their citizens by designated terrorists.
- The first option requires a global, rigorously applied and scrupulously monitored commitment to prevent any concessions to terrorist organisations. This would eliminate hostage-taking as a source of terrorist finance, although terrorists might still kidnap for propaganda purposes. However, the paper shows that the international community remains polarised and is not ready to commit to enforcing such a ban.
- A second option is that governments exit from the market for hostage negotiations and decriminalise private resolutions of terrorist hostage incidents. The insurance sector already offers effective solutions for the prevention and resolution of criminal kidnappings. These solutions would become available for those exposed to the risk of terrorist kidnap.
- A third option would be a new policy framework modelled on existing private sector solutions. Private entities would be allowed to make financial concessions, but governments would create effective (multilateral) institutions to monitor and minimise such payments.
Read more and get the link to download the full paper [HERE].