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 treaty designed to prevent and suppress the financing of terrorism. It was adopted by the United Nations General Assembly in 1999 and is applicable to all nations, including Hawaii. The FTT is made up of two components. The first component is a set of general principles that states are encouraged to adopt in order to help prevent the financing of terrorism. These principles include criminalizing the financing of terrorism, freezing assets of individuals, organizations, and entities associated with terrorism, and strictly controlling and monitoring the activities of non-profit entities. The second component of the FTT is a binding commitment by states to take specific measures to implement the convention. This includes requiring banks and other financial institutions to report suspicious transactions, prohibiting the transfer of terrorism-related funds or assets, and providing mutual legal assistance to other states in criminal investigations and prosecutions related to terrorism. In Hawaii, the FTT is implemented through several state laws and regulations that are designed to prevent and suppress the financing of terrorism. The laws require financial institutions to report suspicious transactions, prohibit the transfer of funds and assets to individuals and organizations suspected of terrorist activity, and allow the state to freeze assets of those suspected of financing terrorism. Additionally, the state has implemented several other measures to prevent and suppress the financing of terrorism.

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

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