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:
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.
last updated: 27 Jun. 2013
FATF Guidance: The Implementation of Financial Provisions of United Nations Security Council Resolutions to Counter the Proliferation of Weapons of Mass Destruction