Fortified – the arms trade and AML

The conventional arms trade has areputation for using side payment sweeteners to secure multi-million dollar deals, writes Paul Cochrane. Despite allegations of corruption in numerous jurisdictions [1], defence contracting is not on the Financial Action Task Force’s (FATF) radar. Should it be? After all, illicit arms sales and non-proliferation of weapons of mass destruction have been major focuses of FATF, warranting Recommendations and typologies to address potential money laundering and terrorist financing abuses.