For immediate release | Tuesday, May 5, 2020

CEP-KAS Webinar: Cryptocurrencies And Terrorism Financing

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Media at CEP

The Counter Extremism Project and Konrad-Adenauer-Stiftung Partner To Discuss Latest Report Findings

(New York/Berlin) – Cryptocurrencies as a decentralized value transfer and storage mechanism are one of the most important current innovations in the financial industry. Their technical structure allows individuals and entities to quickly, efficiently, and globally transfer values without the use of the global financial system. In this regard, this technology could be seen as a breakthrough in tackling the challenge of financial inclusion.

However, this decentralized structure, in combination with encryption technologies that ensure user privacy, is vulnerable to be misused both for money laundering as well as financing of terrorism. Indeed, since 2014, various global and regional terror organizations have regularly attempted to use this technology for their purposes. Global, regional, and national authorities have subsequently begun to develop a regulatory framework for this technology in order to increase the defensive mechanisms against their misuse of nefarious purposes.

The Counter Extremism Project (CEP) and Berlin Risk, a German financial and political consultancy company based in Berlin, have teamed up to analyze the challenges that this new financial technology presents for the fight against the financing of terrorism and what steps authorities, in particular in Germany and Europe, should take to counter this growing risk.

For the office of Konrad-Adenauer-Stiftung (KAS) in New York, the benefits of new technologies as well as the risks they pose for peace, security, as well as democratic governance are a programmatic focus. Thus, KAS is delighted to partner with CEP and to draw attention to the latest research findings on the use of cryptocurrencies by international terrorist organizations.

CEP and KAS cordially invite you to a webinar launching this latest report.

The webinar will be conducted in English on:

May 18, 2020

10:00am - 11:30am EDT / 16:00 - 17:30 CEST

Yaya Fanusie, Foundation for the Defense of Democracies (FDD), the leading global expert on the intersection between cryptocurrencies and the financing of terrorism, will give the keynote address and present his latest research.

Dr. Hans-Jakob Schindler, Senior Director CEP, will present the Berlin Risk/CEP report “Cryptocurrencies as Threats to Public Security and Counter Terrorism: Risk Analysis and Regulatory Challenges.”

The event will be moderated by Andrea Ostheimer, Director KAS New York Office.

Following the presentations, participants will have the opportunity to discuss this issue with the speakers in a Q&A segment.

If you would like to participate at the webinar, please register under the following link: https://us02web.zoom.us/meeting/register/tZItf-GvqDwoHtFK53EC21mtQ3tmubHFxBrm