FATF Special Recommendations and UN Resolutions on the financing of terrorism: A review of the status of implementation and legal challenges faced by countries

摘要

Purpose – This paper seeks to examine the extent to which Financial Action Task Force (FATF) Special Recommendations and UN Security Council Resolutions on the financing of terrorism have been implemented by countries and the legal issues relating to the implementation of these requirements. Design/methodology/approach – It uses the findings from a review of the International Monetary Fund and the World Bank, which is based on a sample of 18 countries that were assessed on their compliance with the FATF 40?+?9 Recommendations (which include the FATF Special Recommendations and UN Security Council Resolutions 1267 and 1373) between March 2004 and August 2005. Findings – It analyses the extent to which the FATF Special Recommendations and UN Security Council Resolutions 1267 and 1373 have been implemented, and in particular, the areas which countries have difficulties in complying fully with the requirements and related issues. It also discusses the difficulties with applying international law instruments such as UN Security Council Resolutions 1267 and 1373 where measures were aimed at non-state actors and their assets, as well as the need for ensuring that persons affected by these measures have adequate legal recourses. Originality/value – In countering the financing of terrorism, the paper discusses the design of a new international legal framework, which requires development of new concepts. It suggests that, by addressing the legal challenges created by these new concepts, the latter can be further refined, improved and strengthened.