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G20 Finance Conclusions on Terrorist Finance, 1999-2009

Drawn from G20 finance communiqués
Anton Malkin, G20 Research Group, August 2009

Summary of Conclusions on Terrorist Finance in G20 Finance Communiqués


Year

Total
Words

% of Overall Words

Total
Paragraphs

% of Overall
Paragraphs

Total
Documents

% of Overall Documents

Total Dedicated Documents

1999

0

0

0

0

0

0

0

2000

0

0

0

0

0

0

0

2001

947

56.3

10

29.4

1

100

1

2002

251

12.5

2

20.0

0

0

0

2003

153

12.7

2

22.2

0

0

0

2004

167

4.1

1

2.2

0

0

0

2005

0

0

0

0

0

0

0

2006

81

3.9

1

2.8

0

0

0

2007

0

0

0

0

0

0

0

2008*

0

0

0

0

0

0

0

2008

0

0

0

0

0

0

0

2009*

0

0

0

0

0

0

0

Average

133.3

7.5

0.7

6,4

0.08

8.3

0.08

Notes: *emergency meetings

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Definition

Brian Jenkins has defined terrorism as “the violence or threat of violence calculated to create an atmosphere of fear and alarm — in a word, to terrorize — and cause panic, disorder, and terror within an organized society, thereby bringing about some social or political change.” The U.S. State Department defines it as “pre-meditated, politically motivated violence perpetrated against non-combatant targets by subnational groups or clandestine agents, usually intended to influence and audience,” according to the Council on Foreign Relations. These broad definitions are applied to terrorist finance, as set out by the criteria identified here.

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Criteria

Include
  • Terrorist financing/networks, illicit finance, transnational crime (as it pertains to terrorism)
  • Financial Action Task Force on Money Laundering
  • UN Counter-Terrorism Committee
  • UN Convention for the Suppression of the Financing of Terrorism
  • UN Convention against Transnational Organized Crime
  • Terrorism training, recruitment, facilities, etc.
  • Freezing, seizing terrorist assets
Exclude
  • Money laundering

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Conclusions on Terrorist Finance in G20 Finance Communiqués

Ottawa, Canada, November 16-17, 2001
Communiqué

We are committed to combating terrorism by cutting off its financial sources. There should be no safe havens for the financing of terrorism. To this end, we have agreed on an Action Plan to deny terrorists and their associates access to our financial systems. We call on other countries to take similar steps.

We recognize that the world’s poorest and most vulnerable are facing acute challenges in the midst of the global economic slowdown, in particular the increased uncertainty resulting from the terrorist attacks. We look forward to participating constructively in the International Monetary and Finance Committee and Development Committee meetings with a view to ensuring that appropriate international support is available to complement the sound national policies needed to generate economic recovery in those countries most affected.

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Ottawa, Canada, November 16-17, 2001
G20 Action Plan on Terrorist Financing

We, the Finance Ministers and Central Bank Governors of the G20, in the name of global peace and security, are determined to stop the financing of terrorism. The fight against terrorist financing is a shared responsibility of the G20 and the broader international community. We have therefore adopted today a comprehensive Action Plan of multilateral cooperation to deny terrorists and their associates access to, or use of, our financial systems, and to stop abuse of informal banking networks.

We will implement quickly and decisively measures that the United Nations have identified as essential to combating terrorist financing. We will block terrorists’ access to our financial system. We will work with the International Financial Institutions (IFIs), the Financial Action Task Force on Money Laundering (FATF), the Financial Stability Forum (FSF) and other relevant international bodies to prevent abuses to the financial system and threats to its integrity through the promotion of international standards relevant to terrorist financing, money laundering and financial sector regulation and supervision. We welcome the conclusions of the recent FATF extraordinary plenary on terrorist financing. Above all, we will enhance our ability to share information domestically and internationally as a vital component in the fight against terrorism.

We encourage all nations to join the international effort to choke off the financing of terrorism. Where a country’s willingness outstrips its ability to act in concert with us, we will provide technical assistance in accordance with this Action Plan.

In pursuing these commitments, we have agreed to the following concrete steps:

Freezing Terrorist Assets

Implementation of International Standards

International Cooperation: Exchange of Information and Outreach

Technical Assistance

Compliance and Reporting

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Delhi, India, November 23, 2002
Communiqué

  1. We, the Finance Ministers and Central Bank Governors of the G20, held our Fourth Meeting today on 23rd of November 2002 at New Delhi, India. We reviewed the global economic situation and outlook, and deliberated on matters concerning crisis prevention and resolution, globalisation, the challenge of achieving sustained growth and development and combating the financing of terror. We reaffirm our conviction that increasing integration of the global economy is producing benefits, including improvement in living standards and reduction of poverty, and our commitment to maximize these benefits through domestic policies, strong institutions, and enhanced international cooperation.

Combating the Financing of Terrorism, and other Abuses of the Financial System

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Morelia, Mexico, October 26-27, 2003
Communiqué

We remain committed to disrupting terrorist financing networks. We recognized that this effort requires a focus on both the formal and informal financial sectors. Therefore, while we will continue efforts to improve our formal financial systems, to expand their scope, and to protect them from this abuse, we will also concentrate efforts to subject informal financial sectors to appropriate monitoring and enforcement actions. We pledged to carry forward our work in this regard, through support of the activities of IFIs and other relevant international fora, and through appropriate domestic actions. We resolved to advance our implementation of the AML/CFT standards. We welcomed the good progress on the IMF/World Bank pilot program in cooperation with FATF, and we look forward to making terrorist financing and money laundering assessments a permanent part of IMF and World Bank work. In this context we urged FATF to make progress, as appropriate, in the enlargement of its membership.

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Berlin, November 20-21, 2004
Communiqué

10. While we have made progress in fighting money laundering and the financing of terrorism since 11 September 2001, much remains to be done. FATF regional style bodies are expected to be an important element of our efforts and we welcome the recent establishment of the Eurasian Group on Money Laundering and Financing of Terrorism (EAG). We look forward to the early admission of China in the FATF. We are committed to implement the revised FATF Forty Recommendations and the FATF Special Recommendations. We welcomed the decision by the IMF and the World Bank to make comprehensive assessments on money laundering and terrorist financing a regular part of their work. We are agreed on the importance of responding to the challenges posed by illegal cash couriers and by the use of the informal sector for remittances and we supported the FATF’s current efforts to address these issues more effectively. In this context we welcomed the new FATF Special Recommendation IX on cash couriers and urge its efficient implementation.

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Melbourne, Australia, November 18-19, 2006
Communiqué

We reaffirmed our commitment to take action against money laundering and terrorist and illicit financing. We commend and encourage closer cooperation between the IMF and World Bank and the Financial Action Task Force (FATF) as well as FATF-style regional bodies in promoting stronger implementation of international AML/CFT standards. We call on FATF and FATF-style regional bodies to continue to broaden the support base for their work and for all countries to strengthen their AML/CFT regimes and publish their comprehensive country evaluations.

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