Proliferation

THE IMPLEMENTATION OF FINANCIAL PROVISIONS OF UNITED NATIONS SECURITY COUNCIL RESOLUTIONS TO COUNTER THE PROLIFERATION OF WEAPONS OF MASS DESTRUCTION.

Recommendation 7 of the FATF Standards requires countries to implement proliferation financing-related Targeted Financial Sanctions (TFS) made under United Nations Security Council Resolutions (UNSCRs or resolutions). Recommendation 2 requires countries to put in place effective national cooperation and, where appropriate, coordination mechanisms to combat the financing of proliferation of weapons of mass destruction (WMD). Immediate Outcome 11 and certain elements of Immediate Outcome 1 relating to national cooperation and coordination aim to measure how effective countries are implementing these Recommendations.

Proliferation - Missile photo

Recommendation 7 requires countries to implement targeted financial sanctions to comply with the UN Security Council Resolutions relating to the prevention, suppression and disruption of proliferation of WMD and it’s financing.

Recommendation 7 is currently applicable to two country-specific regimes, namely the DPRK and Iran. The Recommendation covers all existing and any future successor resolutions.