What is the International Convention for the Suppression of the Financing of Terrorism (FTT)?

The International Convention for the Suppression of the Financing of Terrorism (FTT) is an international agreement that sets out measures to prevent terrorist financing. It was adopted by the United Nations General Assembly in 1999. The FTT is a binding international agreement that requires signatory states to take measures to prevent terrorist financing, including the criminalization of such activity. It requires states to take steps to ensure that any funds or other assets provided to any person for the purpose of committing a terrorist act are frozen and confiscated. Furthermore, the agreement requires states to maintain records of financial transfers and other transactions related to terrorism and to cooperate with other countries in providing legal assistance in the investigation and prosecution of terrorist financiers. In Virginia, the FTT is incorporated into state law through the Virginia International Terrorism Financing Prevention Act. This law requires state agencies to coordinate, cooperate, and share information with the federal government in order to combat terrorism financing. It also requires financial institutions operating in Virginia to report suspicious financial activity to the Financial Crimes Enforcement Network. The FTT is an important tool for combating terrorism worldwide. It serves as a reminder that all states must take measures to prevent the financing of terrorism and to take swift action against those who attempt to provide funds to terrorists.

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What is the International Convention for the Suppression of the Financing of Terrorism (FTT)?

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