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Proliferation finance

Proliferation finance Survey by RUSI-ACAMS

  • by EB 06 Feb, 2020
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Publication type Survey report
Language English
Publication date 06.02.2020
Number of pages 56

The Royal United Services Institute (RUSI) and The Association of Certified Anti-Money Laundering Specialists (ACAMS) collaborated on a unique global Proliferation Finance Survey, carried out in partnership with YouGov.

Survey of sanctions professionals from across the global financial industry reveals significant gaps in private sector knowledge on proliferation finance and capacity to address North Korea and Iran sanctions. The survey reveals that US banks are most exposed to proliferation risk from Iran and that few banks consult UN Panel of Experts Reports on North Korea. The study also indicated that international banks are likely to be more familiar with proliferation finance risk than national or regional banks. Proliferation finance is the financing of weapons of mass destruction and circumvention of sanctions by proliferators, such as North Korea and Iran.

Executive Summary

This report is based on 366 unique survey responses received between 7th November 2019 and 6th January 2020. The survey asked respondents to select the region they are based in. The geographical distribution of survey respondents is as follows: Asia (24%), USA (22%), Americas – excluding the USA – (15%), Africa (15%), Europe (14%), Middle East (7%), and Oceania (2%).

The survey also asked respondents to identify the type of institution they work in. The majority (59%) of survey respondents work in banks, including international banks (28%), regional banks (15%), and national banks (16%). The remaining respondents (41%) work in non-banking institutions including insurance companies, law firms and other professions.

The majority of survey respondents work in sanctions and compliance, including the mid- to junior level (41%), senior management (26%), legal/regulatory/risk management (15%), executive leadership (9%), trade finance (2%), and other (7%).


Read the „Proliferation finance Survey”

Read also the FATF Guidance on Counter Proliferation Financing

Source:
1. Emil Dall, The Royal United Services Institute (RUSI), Justine Walker, The Association of Certified Anti-Money Laundering Specialists (ACAMS) in partnership with YouGov, RUSI-ACAMS Proliferation finance Survey (06.02.2020),
2. The Royal United Services Institute (RUSI), Global Survey of Private Sector Reveals Significant Proliferation Finance and North Korea and Iran Sanctions Implementation Gaps (06.02.2020).

Image by Andrew West from Pixabay

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