United Nations Security Council, under Resolution 1540 (of 2004) and its successor resolutions, has mandated all member states to criminalize any assistance to the Weapons of Mass Destruction (WMD) programs. And more recently, it has expanded the definition of “broker” to include banks, given their crucial role in “facilitating the transaction”. Further, since the Resolution was passed under Chapter 7 of the Security Council, it becomes mandatory and binding on all UN member countries.
This in turn increases the responsibility upon financial organizations !
So, what does that mean to you ?
If you are part of the management of a bank, and it has allowed a transaction through which materials / components intended for the transfer / export of WMD were carried out, then your financial organization has violated UN Resolution 1540.
There are thousands of products, components and materials that have legitimate industrial uses, but also could be part of a WMD (nuclear, chemical or biological weapon) or its means of delivery (e.g. missiles, drones, aircraft).
Many companies trade these dual-use products and deal with entities globally.
As such, please note!
These deals can be transacted by your financial organization!
Do you, and the financial organization under your responsibility, want to take such a
? huge risk
As a result of this UN decision:
- The role of the financial organization in facilitating trade in dual-use (high-technology) items has become more complex
- Most financial organizations lack the expertise to screen all parties to a transaction who exactly is the buyer, who is the intermediary, and who is the producer
- Most financial organizations have no practical and effective means to check if a particular item can be part of a WMD !!!
Even so! The ultimate responsibility for these economic transactions still rests with the financial entities that allow the transaction to be carried out under their supervision. And hence now also bear the risk of committing a violation, and the resulting penalties!
Our aim is to enable financial organizations to competently assess the integrity of a transaction, and it is precisely for this purpose that we have
:developed
So what does Safe-Zone4Banks offer?
- An automated expert system that classifies whether an item can be classified as part of a WMD under international / local regulations
- Efficient, accurate, reliable
- Available on local server, Web or Mobile
- Fast analysis for any international transaction
- Ideal training-tool for new Bank employees
- Customizable, and can operate with a bank’s own risk management system
- Routinely Updated
Your confidence and efficient operations is our
!! success
Now you can have peace of mind as you work! Your confidence and efficient operations is our
! success
CONTACT
Safe-Zone
ADDRESS
4 Ha-Shomer Street Haifa 3317604 Israel
info@szexportcontrol.com
PHONE NUMBER
972-54-200-0245+