ABSTRACT
Following the 9/11 events, the European Union has developed a number of instruments to fight terrorist finances. Most of them were specifically designed to implement and/or enhance the two key countering terrorism financing (CTF) frameworks, whose logic has, at least since 9/11, shaped CTF efforts worldwide – the so-called “smart” sanctions model advanced by the United Nations (UN) Security Council and the anti-money laundering model advanced by G-7's Financial Action Task Force (FATF). This chapter examines how successful the EU actually has been in introducing and implementing its own CTF measures since 9/11. Official EU documents, including the 2004 and 2008 EU strategies to counter terrorist financing, offer very little guidance on assessing the aforementioned preventative, deterrent, investigative, and analytical functions of its CTF measures. The chapter focuses on the following specific CTF “goals” for EU Member States, whose achievement can be evaluated: ratification and implementation of UNSCRs and FATF recommendations; and drafting, adopting and implementing EU's own legal measures.
