FATF Recommendations

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Guidance Regarding the Implementation of Activity-Based Financial Prohibitions of United Nations Security Council Resolution 1737

In June 2007, the FATF adopted guidance regarding the implementation of financial provisions of the United Nations Security Council Resolutions (UNSCRs) to counter the proliferation of weapons of mass destruction (WMD).

Among the financial provisions of the relevant UNSCRs are activity based financial prohibitions, including those contained in paragraph 6 of S/RES/1737(2006).

The purpose of this additional guidance is to assist jurisdictions in implementing the activity based financial prohibitions in paragraph 6 of S/RES/1737(2006) by:

  • Providing background information, definitions, and general principles that jurisdictions should consider when applying this guidance; 
  • Describing information that jurisdictions should encourage their financial institutions to consider for purposes of identifying high-risk customers and transactions that may be related to activities prohibited under paragraph 6 of S/RES/1737(2006); 
  • Describing enhanced scrutiny that jurisdictions should encourage their financial institutions to apply to such high-risk customers and transactions to promote compliance with paragraph 6 of S/RES/1737(2006); and 
  • Describing follow-up actions that jurisdictions should encourage their financial institutions to take to address concerns about high-risk customers or transactions that may be related to activities prohibited under paragraph 6 of S/RES/1737(2006). 

This guidance is not binding and is not directly related to any of the Financial Action Task Force (FATF) 40 + 9 Recommendations, and therefore it is not considered in the FATF mutual evaluation or assessment process. It is intended solely to assist jurisdictions in developing guidance for financial institutions to facilitate implementation of the activity-based financial prohibitions contained in S/RES/1737(2006)

Please note that this document refers to the FATF Recommendations as last updated and published in October 2004, and does not yet take into account the 2012 revision of the FATF Recommendations. 

Click here for the 2012 FATF Recommendations, including the conversion table from the old Recommendation to the new FATF Recommendation.