A gazdaság védelmében, mindannyiunk érdekében.
7. Fight against financing of terrorism


After the 9/11 terrorist attack the global fight against terrorism has presented its effects in all spheres of social and business life. Combating the support of terrorist activities with funds (financing of terrorism) is one of the dimensions of this fight.
Due to 9/11 the FATF laid down the obligation of service providers subject to AML regime and FIU in its special recommendations. Accordingly, the AML/CFT Act explicitly obliges service providers to send an STR in the event of noticing any data, fact, circumstance indicating terrorist financing.
In order to facilitate complying with reporting obligation of service providers and carrying out accurate assessment by the FIUs, the Egmont Group published a document about terrorism financing indicators (FIUs and Terrorist Financing Analysis - A review by the Egmont Group of Sanitised Cases related to Terrorist Financing).

FIUs and Terrorist Financing Analysis - A review by the Egmont Group of Sanitised Cases related to Terrorist Financing

Terrorist lists have been set up by the world's leading political-economic powers and international organizations as well, which as financial restrictive measures aim to identify funds related to terrorism and financing of terrorism and freeze them in an administrative (not criminal) procedure.
Financial restrictive measures appeared in the practice of the United Nations during the 1990's. Besides fight against terrorism financial restrictive measures have been established among others in favour of standing up against anti-democratic regimes that not respect the rule of law or breach fundamental rights. These targeted sanctions aim to impede economic activities for those who are listed. European Union plays an important role in the implementation of financial restrictive measures from the Hungarian point of view. The European Union implements financial restrictive measures ordered by the UN Security Council by its common policy and the European Council's regulations, which are in force and are directly applicable in the EU member states without further implementation due to the legal nature of EC regulations.