On 29 June 2021, the Financial Action Task Force (FATF) published the “Guidance on Proliferation Financing Risk Assessment and Mitigation” (FATF Guidance). The FATF Guidance can be found at the FATF website: http://www.fatf-gafi.org/publications/financingofproliferation/documents/proliferation-financing-risk-assessment-mitigation.html

2          The FATF recently revised its Standards to require countries, financial institutions (FIs) and designated non-financial businesses and professions (DNFBPs) to identify, assess, understand and mitigate their proliferation financing (PF) risks.  The FATF Guidance will help countries, FIs and DNFBPs to effectively implement these new FATF requirements introduced in October 2020 by explaining how they should conduct PF risk assessments and how they can mitigate the PF risks they identify.