ABSTRACT
Terrorism is an expensive operation, especially if the group plans a prolonged period of conflict. While the financial cost of carrying out attacks can be relatively inexpensive, the main drain on terrorist groups’ resources is in the running and maintenance costs such as purchasing materials, property, and travel arrangements (Donohue 2008, pp. 153-154; Danziger 2012, p. 213). While links to terrorist groups being involved in organized criminal activity have been proved to exist (Hesterman 2013), terrorist groups also use legitimate means to fund their activities. With the threat international terrorist groups pose to many states, the UN introduced the 1999 International Convention for the Suppression of the Financing of Terrorism, supported by the UN Security Council issuing Security Council Resolutions (SCR). This chapter will examine the statutory provisions, mainly the UK and US provisions, relating to the funding of terrorism. As the main controversy in the case reports and academic commentary has been concerned with asset freezing, the main focus of this chapter will center on the SCR’s issued relating to orders regarding asset freezing of persons’ finances and how this has been implemented.
