The President of the Financial Action Task Force (“FATF”), Vladimir Nechasev, has published a speech regarding the connection between resolutions issued by the United Nations Security Council and the FATF’s recommendations on the prevention of money laundering and terrorist financing in overseas jurisdictions. Mr Nechasev explains in his speech that the FATF recommendations are intended to help countries to effectively implement targeted financial sanctions measures against terrorist and nuclear proliferation financing, as required by the UN Security Council.