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
imgtext

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

Powered by Lexis+®
Jurisdiction(s):
United Kingdom
Related legal acts:

Popular documents

Money laundering compliance officer—law firms

Money laundering compliance officer—law firmsThis Practice Note is intended for law firms that are subject to the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017), SI 2017/692, as amended. It provides guidance on the requirement to

High-risk third countries tracker

High-risk third countries trackerOrganisations caught by the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017), SI 2017/692 must:•apply enhanced customer due diligence (CDD) measures and enhanced ongoing monitoring in any transaction

If planning permission imposes restrictions on a licensed premises opening hours, once operational can

If planning permission imposes restrictions on a licensed premises opening hours, once operational can the personal licence holder apply for a Temporary Events Notice (TEN) to open for longer hours than those permitted in the planning permission?To use any property for a licensable activity both

What is the difference between an appeal and a review?

What is the difference between an appeal and a review?What is an appeal?An appeal in insolvency proceedings is no different to an appeal in normal litigation. An appeal will be allowed only if the appeal court is satisfied that the decision of the lower court was 'wrong' or 'unjust because of a