chapter  24
18 Pages

Financial Controls and Counter-Proliferation of Weapons of Mass Destruction

ByNikos. Passas*

This chapter focuses on financial controls and vigilance against the proliferation of Weapons of Mass Destruction (WMD). It outlines relevant provisions of the UN Security Council Resolutions (UNSCRs) and the challenges facing the international community in their implementation. A review of Member State reports to the various UN Security Council sanctions committees on what they have done to implement the Resolutions discussed here reveals a wide variety of approaches with respect to financial vigilance. Many States refer to their money laundering, terrorism or terrorism-finance laws as measures responsive to the UNSCRs. Given the sensitivity around proliferation finance issues and controls, an equivalent initiative on UNSCRs would be welcome by Member States and the private sector. The Financial Action task Force's forthcoming methodology for the assessment of compliance with its new 40 Recommendations could possibly pave the ground for more harmonized approaches too.