Where is Jack Bauer when we need him?  As head of the counter terrorism unit (CTU ) in the popular TV series 24, he would have been a welcome face at the recent EU leadership meeting.  The leaders at the meeting have finally decided to step up their efforts against hidden terrorists assets in Europe.  This comes in the wake of the recent London bombs carried out by 4 British citizens who inevitably must have been funded from abroad.

It was our own chancellor, Mr Gordon Brown who recommended that the issue of sharing be discussed at the World Bank and IMF meetings, although we do believe he may have other reasons for this sharing of information...'There will be no hiding place for those who finance terrorism (or avoid taxes - joke, Ed), Just as there will be no safe haven for those who perpetrate it', is about how he phrased it.

Cracking the terrorist code

How long it may take to action this plan is anyones guess as even the plans following the Madrid bombings have not been actioned yet.

Although many of the EU countries, like the UK have invested a large deal in proper systems that help in tracking down the sources of terrorist finance, there is still more which needs to be done.  Experts opined that a country is only as strong as its weakest link, and if terrorism is not viewed as a real threat, then there really will be more and more problems. The EU are thus even threatening to take action against those countries that do not get involved, as a weakening in the chain of Europe.

The major measures in the action plan are:

• Wire transfers  will need to be accompanied by information about the sender

• Updatesof  money laundering rules so that the EU may be able to meet international standards

• A code of conduct to be introduced safeguarding charities and those who donate.

The EU are also enforicing the telephone and internet service firms across Europe to keep records of all private text messages, emails and telephone to pass on to the relevant authorities if needs be.  And although enforcing these action plans may be pricey - it was agreed that its a price worth paying.