By Ceci Lo
Currently, there is a framework that has been set up to fight financing of transnational terrorists and money laundering. This framework targets consequences such as destabilization of the financial sector, threats to international financial centers etc. Ultimately, the framework also addresses issues pertaining to discouraging proliferation financing.
After using half of the lunch time to divide themselves into two blocs, delegates find themselves stumbled by real world situations. ‘China and the UK are not on good terms in real life so I don’t think you guys can form a bloc,’ said a delegate. However this issue is later resolved when the delegate of China claims that the council should see beyond unfriendliness when it owes to achieving a common goal.
After an unmoderated caucus, there is a bloc made up by developed countries suggest implementing harsher preventive measures and restrictions to monitor the issue. Policies they recommends includes imposing constant checkups and reports of behaviours and freezing bank accounts immediately if accounts are suspicious. LEDCs’ bloc render the resolution unfeasible in the long run due to underfunding and corruption. Up against the big problem of limited manpower, the developed countries bloc was still casually chit chatting about a levels and dse during the break.
The majority of LEDCs form a bloc, wishing to impose more mild and friendly restrictions on these illegal activities. This bloc is mainly made up of 12 ‘official blacklisted countries’ (quoting from the delegates), yet they claim that ‘we have to emphasize on international cooperation’. They also suggest in their amendments, to invite world organisations like World Bank to support LEDCs’ education, raise awareness of terrorists and money laundering. They are also striving to create a new organisation called SLACKS to strengthen existing AML and CTF to combat corruptions. While this initiative sounds doable, the 12 member end bloc is way too large that has led to communication diseconomies of scale. Several countries are left out during the caucus and are not able to have perfect information with the leading countries of the bloc (e.g. Myanmar) hence they are unable to work efficiently.
While this oppressing number of 12 vs approximately 6 delegates, the LEDC bloc can easily pass their amendments, yet they strive their best especially the delegate of Myanmar who had a spicy free debate section with the delegate of US. Suddenly turning the council into a one on one battlefield. With the time overrunning, the councils ends with chair’s comments and hopes for a more involving discussion on topic 2.
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