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Global Counter-Terrorist Financing and
Soft Law
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Global
Counter-Terrorist
Financing and
Soft Law
Multi-Layered Approaches
Doron Goldbarsht
Lecturer in Law, Macquarie University, Australia
Cheltenham,UK+Northampton,MA,USA
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© Doron Goldbarsht 2020
All rights reserved. No part of this publication may be reproduced, stored in a
retrieval system or transmitted in any form or by any means, electronic,
mechanicalorphotocopying,recording,orotherwisewithoutthepriorpermission
of the publisher.
Published by
Edward Elgar Publishing Limited
The Lypiatts
15 Lansdown Road
Cheltenham
Glos GL502JA
UK
Edward Elgar Publishing, Inc.
William Pratt House
9 Dewey Court
Northampton
Massachusetts 01060
USA
A catalogue record for this book
is available from the British Library
Library of Congress Control Number: 2020931660
This book is available electronically in the
Law subject collection
DOI 10.4337/9781789909999
ISBN 978 1 78990 998 2 (cased)
ISBN 978 1 78990 999 9 (eBook)
Typeset by Columns Design XML Ltd, Reading
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Contents
List of figures vi
List of tables vii
Acknowledgements viii
List of primary acronyms used ix
1. Introduction 1
2. The importance of countering terrorist financing 15
3. Binding and non-binding norms in countering terrorist
financing 45
4. Examining the level of implementation 80
5. Examining the level of compliance 100
6. Features of the regime that have led to its high levels of
compliance 213
7. Conclusion 228
AppendixA: Matrix of comparison including impossible
combinations 241
Appendix B: Rating compliance with FATF Recommendations 242
Appendix C: List of FATF members (as of July 2019) 244
Appendix D: List of FSRBs 246
Appendix E: List of FATF Observers 247
Index 249
v
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Figures
2.1 Money laundering placement, layering and integration 40
4.1 Convention ratifications by states over time 87
4.2 Signatures and ratifications between 2000 and 2015 87
4.3 Ratification of UN instruments 89
4.4 Criminalisation of terrorist financing 90
4.5 Freezing and confiscation of terrorist assets 91
4.6 Suspicious Transaction Reporting 92
4.7 International cooperation 93
4.8 Requirements for money/value transfer services 94
4.9 Wire transfer rules 95
4.10 Non-profit organisations 96
4.11 Cross-border declaration and disclosure 97
4.12 Implementation of all international standards 98
6.1 Multi-layered implementation of all the Recommendations 219
vi
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Tables
5.1 Full matrix of comparison 103
5.2 Summary of United Kingdom rating compliance with FATF
Recommendations 122
5.3 Summary ofAustralia rating compliance with FATF
Recommendations 141
5.4 Summary of India rating compliance with FATF
Recommendations 160
5.5 Summary of Israel rating compliance with FATF
Recommendations 180
5.6 Summary of Malaysia rating compliance with FATF
Recommendations 194
5.7 Summary of Thailand rating compliance with FATF
Recommendations 212
vii
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Acknowledgements
To my wife, Erin, and our daughters, Arielle and Hallel, whose love,
support and patience make life joyful and rewarding.
And to Ros, Andrew, Chris, Michelle and Hayley, without whom this
book would not have been possible.
viii
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Primary acronyms used
AML Anti-Money Laundering
AUSTRAC Australian Transaction Reports andAnalysis Centre
CTF Counter Terrorist Financing
FATF FinancialAction Task Force
FIU Financial Intelligence Unit
FSRB FATF-Style Regional Body
G7 Group of Seven
ICJ International Court of Justice
ICRG International Co-operation Review Group
IMF International Monetary Fund
MER Mutual Evaluation Report
NCCTs Non-Cooperative Countries and Territories
NPO Non-Profit Organisation
OECD Organisation for Economic Co-operation and
Development
SC Security Council
SOCA Serious Organised CrimeAgency
STR Suspicious Transaction Report
UN United Nations
UNSC United Nations Security Council
ix
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