March 29, 2019

The UN Security Council has unanimously passed the first-ever resolution ordering members to enforce laws against terror financing.


  • The resolution notes that terrorists may abuse legitimate businesses and non-profit organisations for their activities, and make use of emerging payment methods, such as prepaid cards and mobile payments or virtual assets. 

  • UNSC’s resolution demands all states to "ensure that their domestic laws and regulations establish serious criminal offenses" to collect funds or financial resources to terrorist groups or individual criminals. It also calls on members to create financial intelligence units. 

  • Resolution 2462 also affirms the Resolution 1373 that all countries shall prevent and suppress the financing of terrorist acts and refrain from providing any of support, active or passive, to entities or persons involved in terrorist acts. 

  • Nations that fail to carry out the resolution would face U.N. sanctions.