Long abstract

The FATF has agreed to issue best practices for countries in order to assist their implementation of measures to freeze terrorist-related funds or other assets without delay pursuant to relevant United Nations Security Council Resolutions and in accordance with the FATF Standards.
These best practices will help countries to develop and implement targeted financial sanctions to prevent and suppress terrorist financing.

Effective freezing of terrorist-related funds and assets is essential in the fight against terrorism because it:

- Denies funds to terrorists, forcing them to use more costly and higher risk ways to finance their operations.
- Deters persons who might otherwise be willing to finance terrorism.
- Is one element of following the money trail to uncover terrorists, terrorist groups and terrorist activity.

This document replaces the International Best Practice – Freezing of terrorist assets, which was published on 3 October 2003.