FATF Recommendations

FATF Guidance: The Implementation of Financial Provisions of United Nations Security Council Resolutions to Counter the Proliferation of Weapons of Mass Destruction

FATF Recommendation 7 requires countries to implement targeted financial sanctions to comply with the United Nations Security Council Resolutions (UNSCRs) relating to the prevention, suppression and disruption of proliferation of weapons of mass destructions (WMD) and its financing. 

This revised guidance consolidates and updates the previous three FATF guidance papers:

  1. The Implementation of Financial Provisions of UNSCRs to Counter the Proliferation of WMD (June 2007)
  2. The Implementation of Activity-Based Financial Prohibitions of UNSCR 1737 (October 2007)
  3. The Implementation of Financial Provisions of UNSCR 1803 (October 2008)

The new guidance assists countries in implementing not only targeted financial sanctions, but also other measures, such as activity-based financial prohibitions and vigilance measures. 

The annex of the guidance includes further guidance on financial sanctions against a designated financial institution, and a list of relevant paragraphs of the UNSCRs which provides an overview of all relevant provisions in the relevant UNSCRs.