International law
· The FATF (Financial Action Task Force) is an inter-governmental body whose purpose is the development and promotion of policies, both at national and international levels, to combat money laundering and terrorist financing.
The FATF has been in existence since 1989. In April 1990, less than one year after its creation, the FATF issued a report containing a set of Forty Recommendations, which provide a comprehensive plan of action needed to fight against money laundering.The FATF has revised the Forty Recommendations twice; first in 1996 and then in 2003 (see the revised FATF Recommendations) to ensure that they remain up to date and relevant to the evolving threat of money laundering.
Moreover, the FATF issued new international standards to combat terrorist financing – the Nine Special Recommendations – and it calls on all countries to adopt and implement these measures.
· The United Nations has long been active in the fight against international terrorism. Reflecting the determination of the international community to eliminate this threat, the Organization and its agencies have developed a wide range of international legal agreements that enable the international community to take action to suppress terrorism and bring those responsible to justice.
For more information from the U.N website concerning the international terrorism – click here.
For the International Convention for the Suppression of the Financing of Terrorism – click here.
For the Palermo convention (United Nations Convention Against Transnational Organized Crime) – click here.
For the United Nations Convention against Corruption - click here.
For more conventions related to terrorism – click here.
For the U.S Mission to the U.N concerning international terrorism – click here.
For the UN Action Against Terrorism – the counter terrorism committee – click here.
Israeli law
The escalation, which has taken place in terrorist attacks around the world, in recent years, has placed the need for more effective methods of combating the terrorist organizations on the international agenda.
A law named Prohibition of Financing Terrorism Law, 5763 – 2003 has been confirmed.
The law desires to enable the Israeli government to take effective measures against terror threats. These measures include the possibility (under certain preconditions) to adopt list of terrorist organization and individuals publicized by foreign countries.
In addition, the law modifies the name of the IMPA has been to:" Israeli money laundering and terror financing prohibition authority".
For the law named Prohibition of Financing Terrorism Law, 5763 – 2003 – click here.
For more legislation see:
Combating Criminal Organizations Law, 5763-2003
Second schedule of the International Legal Assistance Law 5758- 1998
American law
For the "Patterns of Global Terrorism 2003" Annual Report (U.S Department of State (- click here.
For the U.S. Interagency Efforts To Combat Terrorist Financing – click here.
The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury administers and enforces economic and trade sanctions against targeted foreign countries, terrorism sponsoring organizations and international narcotics traffickers based on U.S. foreign policy and national security goals.
OFAC acts under Presidential wartime and national emergency powers, as well as authority granted by specific legislation, to impose controls on transactions and freeze foreign assets under US jurisdiction. Many of the sanctions are based on United Nations and other international mandates, are multilateral in scope, and involve close cooperation with allied governments.
For Executive Orders, Statutes, Code of Federal Regulations related to terror financing – click here.
President Bush signed Executive Order 13224 on September 23, 2001. Executive Order 13224 gives the U.S. government a powerful tool to impede terrorist funding and is part of our national commitment to lead the international effort to bring a halt to the evil of terrorist activity.
OFAC’s listing of Specially Designated Global Terrorists
For the updated list – click here.
For the list in different formats – click here.