UK Publishes Risk Assessment on Proliferation Financing
The United Kingdom published it first national risk assessment for proliferation financing. The Sept. 23 document covers the U.K.'s strategic, regulatory and operation framework for countering proliferation financing, proliferation financing threats facing the U.K. and vulnerabilities to proliferation financing in…
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Britain. European Sanctions reported on the assessment's key findings, including that “the UK has a robust counter-proliferation legal framework, including its autonomous sanctions regimes,” and “the UK’s financial system is at significant risk from PF given its position in the global financial system, transparency, involvement in the legitimate trade of sensitive/dual-use items and the ease with which actors may set up shell companies in the UK.” North Korea and Iran exist as key proliferation financiers affecting the U.K. financial system, with China and Syria also in the mix, the assessment said.