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Tackling Proliferation Financing Challenges |

Latest Red Flags, Emerging Trends & Case Studies

Over the past six months, the Russian Federation has vetoed a renewal of UN sanctions against Iran’s ballistic missile and UAV program, as well as a resolution extending the mandate of the UN Panel of Experts monitoring the sanctions on North Korea, while at the same time importing Iranian and North Korean UAVs and ballistic missiles for use in its war against Ukraine.

Russia’s vetoes have effectively dismantled the multilateral sanctions framework on Iran and abolished multilateral sanctions monitoring capabilities for North Korea. Russia’s procurement of North Korean ballistic missiles and Iranian UAVs in Ukraine further heighten proliferation finance and sanctions risk for the private sector.

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In recent years, financial crime, sanctions, and other illicit financing risks have expanded in scope, complexity, and significance. It is more important than ever for jurisdictional authorities and the financial institutions and vulnerable industries they oversee to implement training programs to meet elevated compliance and risk management expectations, protect their reputations, and safeguard our collective security.

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Featured

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