The parliament approved on Monday amendments to the Anti-Terrorism Law No 94 of 2015 defining the terrorism financing, and sent them to the State Council for reviewal.
The draft law defined funds or material assets that can be used in financing terrorist operations, as well as the virtual assets that can be traded or transferred to finance activities related to terrorism.
According to the draft law, “financing terrorism means activities such as collecting, receiving, possessing, supplying, transferring, or providing money or other assets, weapons, ammunition, explosives, data, information, or any other collective or individual terrorist activity organised or not organised at home or abroad, directly or indirectly.”
This is applied whatever the source or the mean of conducting the activity, including the digital or electronic form, with the intention of using it, in whole or in part, to commit a terrorist crime or have knowledge of its use, whether or not the terrorist act occurred.
Activities of financing terrorism also include providing a place for training or a safe house for one or more terrorists who were provided with weapons, documents, or any other auxiliary means.
According to the draft law, “the defendants will be sentenced with a life imprisonment whoever commits a crime of financing terrorism if the financing is for a terrorist, and the punishment could reach death if the funding is for a terrorist group or a terrorist act.” Fines range between EGP 100,000 to no more than EGP 3m will be also imposed on the accused persons.