What laws regulate terrorism financing in Europe?
After 9/11, the European Union updated its laws so that E.U. member states are required to share information on suspected financial backers of terrorism and to coordinate their law enforcement efforts with banks and other financial institutions. Additional E.U. measures require greater regulation and transparency of charities and non-profit organizations and closer monitoring of individuals carrying cash across E.U. borders. Further, all E.U. countries must adopt by July 2005 the recommendations for preventing terrorism financing made by the Financial Action Task Force (FATF), an international organization. FATF measures call for countries to pass laws that criminalize terrorist financers and organizations, mandate the reporting of financial transactions linked to terrorism, and require better customer identification with international and domestic wire transfers. Also, under the 1999 United Nations International Convention for the Suppression of the Financing of Terrorism, U.N. member
