AUSTRAC RELEASES AUSTRALIA’S FIRST NATIONAL PROLIFERATION FINANCING RISK ASSESSMENT

On 14 December, Mirage News reported that this risk assessment brings together knowledge from across government and a wide range of private sector stakeholders to provide a contemporary and consolidated picture of proliferation financing risk, how it is combatted and where efforts can be improved.  It found that Australia is primarily targeted by state-based or -linked procurement networks that wish to exploit a range of sectors to export restricted, sensitive or dual-use goods and knowledge, on behalf of Democratic People’s Republic of Korea (DPRK), Iran etc.  Other significant proliferation financing threats include the use of third-country nationals to facilitate proliferation financing and evade sanctions, and the exploitation of Australian citizens to source and export sensitive technologies and knowledge for use by actors of proliferation concern.

https://www.miragenews.com/austrac-releases-australias-first-national-915105/

https://www.austrac.gov.au/sites/default/files/2022-12/AUSTRAC_Proliferation_Financing_in_Australia-National_Risk_%20Assessment_Web.pdf

https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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