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Reflections on Assessing National Exposure to Proliferation Financing Risk
Earlier this summer, the Financial Action Task Force (FATF) requested feedback on a proposed amendment to its Recommendation 1. The amendment would require countries and financial institutions to assess their exposure to the risk of facilitating evasion of UN sanctions on proliferation financing (PF) activity, in addition to assessing their money laundering and terrorist financing risk.
To date, only a handful of jurisdictions have conducted national PF risk assessments, and even fewer have made the results of their assessments publicly available. This event will feature a conversation with representatives of several of the jurisdictions that have completed a national PF risk assessment.
Panellists shared their experience with the process, including approaches to methodology, integration of the risk assessment into existing AML and CTF processes, and best practices for engagement across government agencies and with the private sector.
The objective will be to provide countries who are considering conducting their own national PF risk assessment, as well as practitioners working on the subject of countering PF, insights into the PF risk assessment process.
The discussion will feature representatives of financial intelligence units from a number of jurisdictions that have undertaken an assessment of their PF risk – including the United States, South Africa and Gibraltar.
The speakers are:
- Leonie Dunn, Director, Financial Intelligence Centre, Namibia
- Edgar Lopez, Director, Financial Intelligence Unit, Gibraltar
- Lize van Schoor, Senior Legal and Policy Advisor, Financial Intelligence Centre, South Africa
This event is chaired by Darya Dolzikova, Research Analyst, Counter-Proliferation Finance, RUSI.