On June 20, 2017, Project Alpha will host the workshop “Trade Finance and Proliferation Finance – Mitigating the Risks,” in London.The workshop’s aim is to better understand how trade finance might be exploited to finance WMD proliferation and will build upon a typologies study of proliferation finance currently being carried out by Project Alpha. The report is available here.
The objectives of the workshop are to:
- Review current mechanisms for trade finance and identify how these may be exploited for financing proliferation;
- Identify possible measures governments and financial sector could take to mitigate risks;
- Consider mechanisms for information sharing to support risk mitigation.
Workshops participants will include experts and practitioners from the financial sector, consulting firms with experience advising clients in trade finance or proliferation finance contexts, banking association representatives, government agencies, and research and academic organisations.
For inquiries regarding attending the workshop as a speaker or participant, please contact Andrea Viski through email to Andrea.Viski@kcl.ac.uk.
A Report by Dr Jonathan Brewer
Illustration credit: Jason Robinson—originally published in the ACAMS Today magazine, a publication of the Association of Certified Anti-Money Laundering Specialists (ACAMS).
Combating the proliferation of weapons of mass destruction is a key priority for the international community. One of the tools for doing this is disruption of the networks used to finance proliferation. However, detecting financing of proliferation (FoP) is difficult and requires a better understanding of the typologies.
The most comprehensive study of FoP to date was published by the Financial Action Task Force (FATF) in 2008. Since then, largely due to sanctions on Iran and DPRK, more information on FoP has become available. The King’s College Study of Typologies of Financing of Proliferation is collecting and analyzing information held by governments and the banking and financial sector in order to publish reports on current FoP typologies. Additional indicators identified by this report could possibly be visible to banks and financial institutions that may be unknowingly involved in processing related transactions.
This Interim Report comprises analyses of 18 case studies, based on information supplied to the Study to date, contained in reports of UN Panels on Iran and DPRK, and in documents relating to a small selection of US Department of Justice actions.
The King’s College London Study will continue to collect and analyse data on FoP from governments and the private sector, and will publish a final report in July 2017.
The study is accessible below:
Study of Typologies of Financing of Proliferation Interim Report 5 Feb 2017