Proliferation Financing

Applies to: AML Accelerate, Risk Assessment

What Proliferation Financing is and why prevention is important

Proliferation financing is defined by the FATF as the act of providing funds or financial services which are used, in whole or in part, for the manufacture, acquisition, possession, development, export, trans-shipment, brokering, transport, transfer, stockpiling or use of nuclear, chemical or biological weapons and their means of delivery and related materials (including both technologies and dual-use goods used for non-legitimate purposes), in contravention of national laws or, where applicable, international obligations.

By obstructing channels used to fund proliferators, businesses are helping to complicate their ability to procure anything related to the development of weapons of mass destruction and their means to delivery. Having a counter-proliferation approach is essential to our livelihood.

For additional information refer to:

• FATF Recommendations
• EU Regulations on Proliferation Controls
• South Africa's Financial Intelligence Centre Guidance
• United Kingdom's National Risk Assessment (NRA) of Proliferation Financing and Regulation

Risk Assessment

Proliferation financing is included as a risk factor and two risk indicators in the Risk Assessment platform's ML & TF Enterprise Risk Model v1.5, under Environmental Risk > External Environment.

AML Accelerate

Proliferation Financing is included as a category under Environmental Risk in the ML & TF Risk Assessment section. To see this new risk category, your AML Program must be on the latest version, created on 7th December 2022 or later.

Proliferation financing is also included as a risk indicator in the AML Accelerate ML & TF Risk Assessment section, under Environmental Risk > Targeted Financial Sanctions > Higher Risk Customers.

To see this indicator, your AML Program must be on the latest version, created on 13 July 2021 or later.