Terrorism – Financing
Security Council Unanimously Adopts Resolution Calling upon Member States to Combat, Criminalize Financing of Terrorists, Their Activities
New Technologies Must Not Stifle Financial Inclusion, Cautions Expert, Citing $1.7 Billion ‘Unbanked’ People in Terrorism-Prone Regions
28 March 2019 SC/13754
The Security Council called upon Member States today to step up efforts to combat and criminalize the financing of terrorists and their activities, adopting a resolution on the issue before holding a day-long open debate that placed the spotlight on international cooperation, capacity-building and respect for international law.
Unanimously adopting resolution 2462 (2019) under Chapter VII of the United Nations Charter, the Council reaffirmed its resolution 1373 (2001) — adopted in the wake of the 11 September 2001 attacks in the United States — which requires all States to prevent and suppress the financing of terrorist acts and to refrain from providing support to those involved in them.
By other terms of the resolution, all States shall — in a manner consistent with their obligations under international law — ensure that their laws and regulations make it possible to prosecute and penalize, as serious criminal offences, the provision or collection of funds, resources and services intended to be used for the benefit of terrorist organizations or individual terrorists.
It demands that Member States ensure that their counter-terrorism measures are in compliance with their obligations under international law, including international humanitarian law, international human rights law and international refugee law. The resolution also calls upon Member States to conduct financial investigations into terrorism-related cases and to more effectively investigate and prosecute cases of terrorist financing, applying criminal sanctions as appropriate.
Briefing the Council, Marshall Billingslea, President of the Financial Action Task Force — an inter-governmental body that sets standards for combating money laundering and terrorist financing, said all States must understand the ways in which they may be vulnerable to terrorist financing. With risks extending beyond the banking and financial sectors, States must identify all potentially vulnerable sectors, he added. More broadly, Mr. Billingslea, who is also Assistant Secretary for Terrorist Financing in the United States Department of the Treasury, said Member States must also address fundamental issues that create environments conducive to terrorism and terrorist financing, such as corruption, weak governance and lack of respect for the rule of law…