Financing Terrorism With FinTechs in West Africa?

Despite FinTech's considerable financial inclusions in West Africa, its unintended criminogenic features cannot be overlooked. While the region rises as the continental FinTech hub, many countries have collapsed under terrorism. It faces a unique vulnerability to terrorism financing for having a high rate of joblessness among its FinTech-savvy millennials, which overlaps another high rate of joblessness among young terrorist recruits. But by highlighting the difference between the “operational” and “networking” motives of terrorism financing, this chapter demonstrates that the natures of assaults occurring in West Africa are operational financing using rudimentary cash flow carriers across borders. But given the ingenuity with which cybercriminals operate, it conducts a comprehensive analysis of the legislative measures implemented in West Africa to prevent FinTech's terrorism financing risks. It explores futureproofing, cutting-edge, and dynamic technology-based strategy, designed explicitly on cryptocurrencies and virtual assets to anticipate and combat terrorism financing.