Targeted Financial Sanctions

Recommendation 6 of FATF requires each country to implement the targeted financial sanctions regimes to comply with the United Nations Security Council resolutions (UNSCRs or resolutions) relating to the prevention and suppression of terrorism and terrorist financing. Recommendation 6 is intended to assist countries in implementing the targeted financial sanctions contained in the UNSCRs relating to the prevention and suppression of terrorism and terrorist financing

1. UNSCR 1267(1999) and its successor resolutions (the Al-Qaida/Taliban sanctions regimes);
2. UNSCR 1373(2001); and
3. any future UNSCRs which impose targeted financial sanctions in the terrorist financing context.

These resolutions require countries to freeze, without delay, the funds or other assets of, and to ensure that no funds or other assets are made available, directly or indirectly, to or for the benefit of, any person or entity either

1. designated by, or under the authority of, the United Nations Security Council (the Security Council) under Chapter VII of the Charter of the United Nations, including in accordance with the Al-Qaida/Taliban sanctions regimes4; or
2. Designated by that country or by a supra-national jurisdiction pursuant to UNSCR 1373.

Such measures may be either judicial or administrative in nature.

Press Release