‘Investigation and prosecution in the field of combating the financing of proliferation’

Doha, Qatar: Qatar Central Bank (QCB) represented by the National Committee to Combat Money Laundering and Terrorist Financing, and in cooperation wit...

Doha, Qatar: Qatar Central Bank (QCB) represented by the National Committee to Combat Money Laundering and Terrorist Financing, and in cooperation with the Middle East and North Africa Financial Action Task Force (MENAFATF) hosted a workshop entitled “Investigation and prosecution in the field of combating the financing of proliferation.” The three-day workshop commenced yesterday. 

The workshop aims to provide a comprehensive understanding of the financing of proliferation and its mechanisms, and to understand, identify and evaluate risks, in addition to providing insights into the international legal framework that governs the financing of proliferation, including the decisions of relevant international organisations and the recommendations of the Financial Action Task Force. 

In the opening speech of the workshop, Essa Al Hardan, Secretary of the National Committee to Combat Money Laundering and Terrorist Financing and Head of the Technical Assistance and Applications Working Group of MENAFATF, stressed that the proliferation of weapons of mass destruction is considered a major threat to global peace and security, adding the international community for nearly two decades has drawing attention to the financing of proliferation, recognising the need to implement financial measures to prevent the proliferation of weapons of mass destruction based on United Nations Security Council Resolution 1540 (2004)”. 

He noted that in 2008, the FATF addressed proliferation financing by adopting an application report that identifies and analyzes the current threat to proliferation financing, in addition to the methodologies used by those involved in and facilitating proliferation.

Since 2012, the FATF has been working to strengthen and refine recommendations to provide countries with the most effective tools to combat the financing of the proliferation of weapons of mass destruction. As for national responses, the response of judicial authorities in different parts of the world has varied, with many of them marred by shortcomings in the counter-proliferation framework and its implementation/ It has been highlighted, for example, based on the results of the mutual evaluation reports, that the majority of jurisdictions do not specifically address the problem of proliferation financing separately from other types of financial crimes, such as terrorist financing or money laundering.