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Iceland Adopts Measures to Combat Global Terrorism

Reykjavik, Iceland - The Icelandic government has taken significant steps to implement United Nations Security Council Resolutions aimed at combating global terrorism.

Prohibition of Financial Support and Resources

On November 14, 2001, the government issued Public Announcement No. 867/2001, which prohibits:

  • Icelandic citizens and entities from providing financial support or resources to individuals engaged in terrorist activities
  • Those with links to Iceland from collecting money or providing financial means to terrorists
  • Becoming bailiffs for terrorists or providing financial advice

Additionally, businesses authorized to provide financial services are required to report any suspicious transactions linked to terrorism to the National Commissioner of Police.

Penalties for Non-Compliance

Those who fail to comply with these measures could face a maximum penalty of two years’ imprisonment. The Public Announcement is based on Act No. 5/1969 regarding the Implementation of United Nations Security Council Resolutions, which is currently under review.

Iceland’s Commitment to International Cooperation

Iceland has demonstrated its commitment to international cooperation in the fight against global terrorism by:

  • Signing and ratifying numerous United Nations instruments and conventions related to counter-terrorism
  • Being a member of the Financial Action Task Force against Money Laundering (FATF) and actively participating in its work
  • Ratifying several Council of Europe conventions aimed at combating terrorism, including:
    • The European Convention on the Suppression of Terrorism
    • The Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime and on the Financing of Terrorism

Investigation and Risk Assessment

The Office of the National Commissioner of Police has:

  • An Investigation Department that investigates acts of treason and offences against the constitutional structure of the State and its senior officials
  • A National Security Unit that assesses the risk of terrorist activities and threats posed by organized crime or other activities that may undermine national security

Iceland’s Efforts to Prevent Money Laundering

In addition to its efforts to combat terrorism, Iceland has also taken steps to prevent money laundering. Act No. 64/2006 on measures against money laundering and terrorist financing requires:

  • Individuals and businesses engaged in activities that may be used as a means of money laundering to know the identity of their customers
  • Reporting any suspicious transactions to the authorities

Criminal sanctions are available for violations of this act, which was passed in response to Council Directive No. 2005/60/EC. The Icelandic government is committed to working with international partners to combat global terrorism and prevent financial crimes.