The Financial War on Terror
A Review of Counter-Terrorist Financing Strategies Since 2001
Routledge – 2015 – 256 pages
Series: The Law of Financial Crime
On September 11th 2001, 19 terrorists committed the largest and deadliest terrorist attack in the United States of America. The response from the international community and in particular the US, was swift. President George Bush declared what has commonly become referred to as either the ‘War on Terror’ or the ‘Global War on Terror’ on September 20th 2001. Four days later, he instigated the ‘Financial War on Terror’. This book defines and identifies the so-called ‘Financial War on Terror’. It provides a critical review of the impact of counter-terrorist financing strategies enacted by both individual jurisdictions and international organizations.
Taking a comparative approach, the book highlights the levels of compliance in each selected jurisdiction and organization with the requirements of the ‘Financial War on Terror’. The book analyses measures introduced by the United Nations, including the UN sanctions against terrorists and the operation of its anti-terrorist sanctions committees, and the ‘Special Recommendations’ of the Financial Action Task Force. It also reviews the counter-terrorist financing measures of the European Union and the Council of Europe, paying particular attention to the Framework Decisions on Combating Terrorism, the Council Common Positions on Combating Terrorism and the EU Anti-Terrorism Sanctions Regime. The book goes onto to review the measures put in place in the US following September 11th 2001. It assesses the roles of the Department of Treasury, the Financial Crimes Enforcement Network and the Office of Foreign Assets Control.
Offering a much-needed legal analysis of the measures enacted under the ‘Financial War on Terror’ this book is a valuable resource for those researching in law, terrorism studies, criminal justice, and finance.
1. Introduction 2. The United Nations and Financial Action Task Force 3. The European Union 4. The United States of America I 5. The United States of America II 6. The United Kingdom I 7. The United Kingdom II 8. Switzerland 9. Saudi Arabia 10. Conclusions and Recommendations
Dr Nicholas Ryder is a Reader in Law and head of the Commercial Law Research Unit at the University of the West of England. His research interests are financial crime. He has published articles in the Cambridge Law Journal, Legal Studies, the Journal of Business Law and the Journal of Consumer Policy.