This report focuses on international and unilateral sanctions frameworks regarding the proliferation of WMDs in North Korea, Iran and Russia, identifying the challenges of implementing counter-proliferation finance and sanctions controls.
In light of the increasingly complex sanctions landscape, measures are required to strengthen the financial system against proliferation finance (PF) and sanctions evasion activity. While governments have a role to play in setting the regulatory and legal landscape to fight PF and preserve the integrity of the global financial system, they rely on the global cooperation of the financial sector to achieve effective counter-proliferation finance (CPF) and sanctions implementation. This report provides support to the financial sector by identifying the challenges that financial institutions (FIs) face when implementing CPF and sanctions controls and giving recommendations for tackling such challenges.