International Best Practices: Targeted Financial Sanctions Related to Terrorism and Terrorist Financing (Recommendation 6)
FATF Recommendation 6 requires countries to implement the targeted financial sanctions regimes to comply with the United Nations Security Council Resolutions (UNSCRs) relating to the prevention and suppression of terrorism and terrorist financing, such as UNSCR 1267(1999) and its successor resolutions, and UNSCR 1373(2001).
Efforts to combat terrorist financing are greatly undermined if countries do not freeze the funds or other assets of designated persons and entities quickly and effectively.
This updated best practices paper reflects the latest relevant UNSCRs in response to challenges faced by countries in the implementation of Recommendation 6. The paper provides best practices that could help countries in their implementation of the targeted financial sanctions to prevent and suppress terrorist financing in accordance with the relevant UNSCRs.