Paul Flynn – 2015 Parliamentary Question to the Prime Minister

The below Parliamentary question was asked by Paul Flynn on 2015-11-26.

To ask the Prime Minister, with reference to pages 12 and 13 of his response to the Second Report from the Foreign Affairs Select Committee, on the Extension of Offensive Military Operations to Syria, HC 457, what specific steps have been taken through the Financial Action Task Force and Egmont Groups to block funding of ISIS.

Mr David Cameron

The Financial Actions Task Force (FATF) report on ‘Financing of the Terrorist Organisation ISIL’ (Feb 2015) sets out specific measures which countries should adopt, over and above general measures designed to block terrorist financing, to ensure Daesh cannot access the international financial system. The FATF conducted a report for the G20 Leaders in November 2015 on implementation. They found almost all 194 jurisdictions had criminalised terrorist financing and 90% of jurisdictions had a legal framework to enforce sanctions. There were 33 jurisdictions which had secured convictions for terrorist financing.

The Egmont Group comprises 151 members, including the UK, USA, France and regional partners such as Saudi Arabia, Turkey, Qatar and Lebanon. In June 2015 the Group expanded its membership; 42 new bilateral agreements to exchange information were announced to help combat global money laundering and terrorist threats. The Group also issued a communication to its members in June 2015 regarding Daesh which encouraged members to use its unique global network to combat Daesh money laundering and financing by increasing international cooperation, including the exchange of information.