PRESS RELEASE

Public statement of the European Central Bank on its support for measures to prevent the use of the financial system in the funding of terrorist activities

1 October 2001

The Governing Council of the European Central Bank fully supports the measures taken in the aftermath of the horrific attacks on targets in the United States to intensify efforts to prevent the use of the financial system in the funding of terrorist activities. It notes that it is of crucial importance that the highly developed financial system, which has been furthered by the introduction of the euro, cannot and will not be used to facilitate criminal activities. In particular, such a system should not benefit persons and organisations associated with terrorist activities in order to ensure that public trust in the integrity of the system is fully preserved. In view of the globalisation of finance, measures to prevent the use of the financial system in the funding of terrorist activities should apply as broadly and uniformly as possible.

The Eurosystem is committed to doing everything within its power to contribute to the adoption, implementation and execution of measures against the use of the financial system for terrorist activities. This is being done in close consultation with the other competent international, European and national institutions and authorities.

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