France wants UN to address new threats from terror financing

France is preparing a UN Security Council resolution that would step up measures to counter threats from terrorism financing, the French ambassador said on January 31 .

The draft resolution, which is expected to be a centerpiece of France’s presidency of the council in March, will take a broad approach to cutting off terror groups from international finance.

French Ambassador Francois Delattre told a UN meeting that “the response of the international community must continue to evolve to better adapt to the threats” posed by terrorist financing.

The council has adopted resolutions aimed at choking off revenue to the Islamic State jihadist group and Al-Qaeda-linked fighter, including a major text in 2015 that allows for sanctions.

Delattre did not provide details of the proposed resolution, but diplomats said it could oblige all UN member states to clamp down on anonymous transactions and the use of new financial tools to funnel funds to terror groups.

UN diplomats on January 31 heard several experts provide information on the use of financial schemes by terror groups, including the use of money orders to fund their activities.
The draft resolution would create the obligation for all member-states to cooperate with the private sector to track down those who make use of financial services for terrorism.

Source: Money Control