The Role of the UN Security Council in the Context of Combating Money Laundering and the Financing of Terrorism

Abstract

The subject of the study is the role of the UN Security Council in the international system of countering money laundering and terrorist financing. The author pays special attention to the historical component, identifying the reasons for the transformation of the UN approach to money laundering and terrorist financing and tracing the link between the globalization of terrorist acts and the development of counteraction by the UN Security Council. The main functions of the Counter-Terrorism Committee (CTC of the UN Security Council) and the Executive Directorate (CTED of the UN Security Council) are outlined. The article reveals the role of a number of UN Security Council documents as a systemically significant source of law in the context of the international system for countering money laundering and terrorist financing, as well as individual problems faced by states implementing the norms of resolutions into their national legislation.  The methodological basis of the study was a combination of general scientific (logical method and analysis) and private scientific methods (comparative legal, historical legal, historical and sociological). The article systematically details the development of the UN Security Council's approach to the problem of money laundering and terrorist financing. Through careful consideration of individual provisions of the resolutions, the role of this UN Security Council and its bodies in developing measures and countering ML/FT is being specified. Based on the results of the study, the author concludes that the UN Security Council has played a systemically significant role in the formation of an international system for countering money laundering and terrorist financing, consolidating a number of advanced international standards developed by international organizations, para-organizations and other institutions. In addition, the author clarifies that it is thanks to the UN Security Council that it is possible to further "solidify" the FATF Recommendations and their full implementation into the international legal system.