Counter-proliferation financing—CPF—the basics


Published by a UUÂãÁÄÖ±²¥ Practice Compliance expert
Practice notes

Counter-proliferation financing—CPF—the basics


Published by a UUÂãÁÄÖ±²¥ Practice Compliance expert

Practice notes
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This Practice Note explains counter-proliferation financing (CPF). It sets out regulatory requirements and discusses the associated risks relating to proliferation financing. It is aimed at businesses caught by the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017), SI 2017/692—see Practice Note: Money Laundering Regulations 2017—scope and application, or for law firms Money Laundering Regulations 2017—scope and application—law firms. Organisations caught by the MLR 2017 must assess proliferation financing risks and put in place policies, controls and procedures to mitigate and manage those risks.

What is proliferation financing?

Proliferation financing is the act of providing funds or financial services for use, in whole or in part, in the manufacture, acquisition, development, export, trans-shipment, brokering, transport, transfer, stockpiling of, or otherwise in connection with the possession or use of, chemical, biological, radiological or nuclear (CBRN) weapons, including the provision of funds or financial services in connection with the means of delivery of such weapons and other CBRN-related goods and technology, in contravention of a relevant financial sanctions obligation.

This is a broad definition and

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Jurisdiction(s):
United Kingdom
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