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 was adopted in 1999 by the United Nations General Assembly. It is designed to bring together countries to work together to prevent the financing of terrorism. The main purpose of the FTT is to discourage and criminalize the financing of terrorist activities. It sets out bans on the various sources of income used to finance terrorism, including donations, taxes, criminal activities, and other illicit methods. The FTT also requires countries to criminalize certain activities that can be used to finance terrorism. These activities include money laundering, freezing of funds, and illegal arms trafficking. Additionally, the FTT calls for countries to cooperate in the investigation of terrorist financing and to exchange information on terrorist networks. This agreement is intended to make it more difficult for terrorists to access the funds they need to carry out their attacks. The FTT has been ratified by over 140 countries, including North Dakota. The North Dakota State Legislature has implemented the FTT into state law, making it illegal to knowingly provide funds to an individual or group engaged in terrorist activities. It also requires any financial institution that transacts with foreign banks or individuals to transfer funds through a secure protocol.
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