Overview

Proliferation financing and weapons of mass destruction - what do they have to do with banks, lawyers, accountants, cryptocurrency exchanges, gaming companies and the threat of hackers, scammers and money mules. And how has Malta been affected?

The Malta ACAMS Chapter, in collaboration with the Royal United Services Institute (RUSI) Centre for Finance and Security (CFS), will host a webinar on Proliferation Financing.

As the global landscape becomes increasingly complex, the need to protect our financial systems from exploitation by weapons of mass destruction (WMD) proliferators is critical. Proliferation financing, which involves providing funds or financial services for the development, manufacture, or acquisition of nuclear, chemical, or biological weapons, represents a significant threat to international peace and security.

This webinar will offer a comprehensive understanding of Proliferation Financing, examining the associated risks to the financial system and the control frameworks that financial services and designated non-financial businesses and professionals (DNFBPs) can implement to counter this threat. A panel of Counter-Proliferation Financing (CPF) experts will share their insights on international obligations and regulatory frameworks, the risks to the financial system, the enablers and red flags of proliferation financing, and best practices in mitigating this threat.

Understanding Proliferation Financing: An overview of what constitutes Proliferation Financing and its implications.

Regulatory Frameworks and International Standards: A review of key international regulations and standards, including UN Security Council Resolutions (UNSCRs) and Financial Action Task Force (FATF) recommendations.

Risk Assessment and Mitigation Strategies: Practical guidance on identifying and mitigating Proliferation Financing risks within financial institutions and DNFBPs.

Case Studies and Lessons Learned: Real-world examples highlighting successful strategies and common pitfalls in combating Proliferation Financing.

Emerging Trends and Technologies: Exploration of how advancements in technology can aid in the detection and prevention of proliferation financing activities, with a particular focus on how North Korea has utilized cryptocurrency to finance its WMD program.