Terrorist Financing is:
- Using funds (whether those funds are derived from legal and or illegal means) for the purposes of sponsoring or facilitating terrorist activities; or
- Acquiring, possessing, concealing, converting or transferring any funds that are intended to be provided or used for the purposes of terrorism (whether directly or indirectly).
More specifically, within BVI legislation:
“terrorist financing” means –
- the provision or use of funds for the purposes of terrorism; or
- the acquisition, possession, concealment, conversion or transfer of funds that are, directly or indirectly, intended to be provided or used for the purposes of terrorism;