A report to be released Monday by the Commission on the Prevention of Weapons of Mass Destruction Proliferation and Terrorism says urgent security measures need to be taken soon or the world is likely to undergo an incident of terrorism using weapons of mass destruction within the next five years, The New York Times reported.

"Unless the world community acts decisively and with great urgency, it is more likely than not that a weapon of mass destruction will be used in a terrorist attack somewhere in the world by the end of 2013," the report states in the opening sentence of the executive summary.

The panel was created by Congress as part of the recommendations of 9/11 Commission, and its nine members include several Democrats who are active in U.S. President-elect Barack Obama's transition team.

It cited Pakistan as a trouble spot where extremism, terrorism and nuclear capabilities intersect and urged that Iran and North Korea's nuclear programs be contained, even if it means taking military action, the Times reported.