The International Convention for the Suppression of the Financing of Terrorism was adopted by the General Assembly of the United Nations in resolution 54/109 of 9 December 1999 and entered into force on 10 April 2002.
The States Parties to this Convention have agreed that:
- Requires parties to take steps to prevent and counteract the financing of terrorists, whether direct or indirect, through groups claiming to have charitable, social or cultural goals or which also engage in illicit activities such as drug trafficking or gun running;
- Commits States to hold those who finance terrorism criminally, civilly or administratively liable for such acts; and
- Provides for the identification, freezing and seizure of funds allocated for terrorist activities, as well as for the sharing of the forfeited funds with other States on a case-by-case basis. Bank secrecy is no longer adequate justification for refusing to cooperate.
