UNITED NATION

UNITED NATION GENERAL ASSEMBLY

DATE- 20TH OCTOBER 2023

ORIGINAL - English

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AUTHOR- People’s Republic of China

AGENDA- Money Laundering and Financing of Terrorism

The delegate of People’s Republic of China suggests the following

- Every country must focus on Developing a strong and robust legal

framework on the issues of both Money Laundering and Financing of
Terrorism. This proactive approach will result in an increase in the
number of prosecutions thereby lowering the rate of crimes associated
with Money Laundering and Terror funding within the country.

- Countries must focus on establishing regional alliances with the

neighbouring nations with a focus on terrorism and money laundering
activities in the region. This approach will result in reduction of such
activities thereby reducing the possibilities of internal conflicts and
enhancing regional security. Countries should take inspiration from
alliances such as the Eurassion group and the Asia/Pacific group.

- All nation states must comply with their obligations under international
law including The United Nations Convention against Transnational
Organized Crime of 2000 and the 1999 International Convention for the
Suppression of the Financing of Terrorism. This commitment will ensure
the global community’s efforts to combat Money laundering and
Financing of terrorism.
 - Nations must develop a strong financial intelligence unit which will
serve as frontline defenders and will aid to collect , analyse and
disseminate crucial information. Thereby investing in such programmes
must be a prime responsibility of a nation.

- The secretary general must establish a high level panel of experts to

consider and recommend ways to strengthen the international regime for
the prevention of acts of Money laundering and Terrorism Financing.

- Countries which do not cooperate in the international anti Money

Laundering and anti Terror Funding efforts should face suspension from
the global assemblies. Their reinstatement should be done only when
they adhere to the policies.

- Governments around the world should collaborate with tech companies to

create robust algorithms for identifying and tracking financial
transactions by crypto currencies and on social media. This will thereby
prevent the exploitation of digital platforms for financial crimes.

To prevent acts of Money Laundering and Financing terrorism, it is necessary to

take appropriate and necessary measures for maintaining global peace and
security.