G7 Promises to Enhance Counterterrorism Anti-Money Laundering Efforts

In a joint communique the G7 ministers promised to implement two United Nations Security Council resolutions that call for the freezing of suspected terrorist funds. In addition to the joint communique, the G7 finance ministers issued a separate “action plan” pledging to combat the financing of terrorism. The G7 ministers also agreed to convene meeting of the Financial Action Task Force to prepare guidelines to help banks identify possible terrorists and other counterterrorist efforts, including measures to isolate jurisdictions that facilitate terrorist financing and ascertain ways to stop them from doing so.