追踪两用物项，确保贸易合规

The Challenge of Tracking Dual-Use Goods for Trade  Compliance

追踪两用物项，应对贸易合规挑战

Regulators in all major markets are calling on financial institutions both to monitor money laundering and other risks associated with their trade financing businesses and to implement controls, including for dual-use and other restricted goods. Identifying dual-use goods as part of a broader due diligence process may seem straightforward, but when considered against the outdated, largely paper-based processes that underpin crossborder trade today, the task proves both challenging and time-consuming.

全球主要市场的监管机构都要求金融机构监测、控制洗钱风险，以及贸易融资业务相关的其他风险，包括控制两用物项和其他管制商品。在尽职调查中加入两用物项看似简单，但在当今的国际贸易中，以纸质化流程为主的筛查不但充满挑战，而且浪费时间。

Dual-use goods are products and technologies that are common in regular, everyday use but that also have military applications. Examples of dual-use goods are some models of drones, aluminum pipes with precise specifications and certain kinds of ball bearings. Because of the potential risk that these goods could be used for military purposes, regulators try to control, or at least monitor, when and where these goods are sold. Since the inception of multilateral export control regimes, there have been obligations on parties to a transaction to ensure the movement or financing of dual-use goods is within legal limitations. All participants in the supply chain, including banks financing the goods, and logistics providers moving the goods are now required to conduct additional compliance-based checks such as export control licensing, counterparties to the trade, means of transport and locations of delivery and transshipment.

What regulatory guidance exists?

有哪些监管指引？

Multilateral export control regimes and other controls imposed by specific countries reflect an increasing demand for responsibility in transfers of conventional arms and dual-use goods and technologies. Most published dual-use trade controls are based on a country or unified trade body having committed to an agreement such as the Wassenaar Arrangement, which was established in 1996 and signed by more than 40 countries to prevent destabilizing accumulations and the acquisition of dual-use goods by terrorists. In fact, the Wassenaar Arrangement is the basis for the EC Regulation No. 2021/821 (formerly No. 2019/428), the U.S. Commerce Control Listand the U.K. Security Control Lists. And recently P.R.C issued the Regulations of the Export Control of Dual-Use Items. The Nuclear Suppliers Group and the Missile Technology Control Regime are additional examples of such multilateral export control regimes.

某些国家实行的多边出口管制和其他措施表明，对常规武器以及两用物项的监管要求日益严格。大多数实施两用物项管制的国家/地区或统一贸易实体都会签订一项协议，如 1996 年签署的《瓦森纳协定》(Wassenaar Arrangement)，该协定由 40 多个国家/地区签署，目的是防止恐怖分子大量囤积和获取军民两用品。欧盟第 2021/821 号条例（原第 2019/428 号）、《美国商业管制清单》(U.S. Commerce Control List) 和《英国安全管制清单》(U.K. Security Control Lists) 全部基于该协定。还有，近期《中国两用物项出口管制条例》自2024年12月1日起施行。其他多边出口管制的例子还包括核供应国集团和导弹技术管制机制等。

These regimes and other guidance issued by regulators are part of a broader movement to combat the use of international trade as a major channel for funding the activities of terrorists, providing capital and restricted goods to sanctioned parties, and laundering the funds of drug traffickers and other criminals. Until recently regulatory authorities in the banking sector have primarily relied on anti-sanctions and anti-money laundering measures to counter adversarial nations, terrorist groups, and other threats to national security. However, during the latter part of 2023 and particularly early 2024 the rise of export controls as a distinct tool targeting the movement of sensitive and dual-use goods has become quite significant.

这些机制和监管机构发布的其他指引，旨在打击利用国际贸易为恐怖分子提供资助，向制裁对象提供资金和管制物项，以及为毒贩和其他犯罪分子洗钱。一直以来，银行业监管机构主要依靠反制裁和反洗钱措施来抵御敌对国家、恐怖组织和其他国家安全威胁。然而，2023 年下半年，特别是 2024 年，出口管制作为一种针对关键技术和敏感两用物项的监管悄然兴起。

The Monetary Authority of Singapore (MAS)issued regulation requirements for trade finance screening of dual-use goods. Included in The Hong Kong Association of Banks’ guidance on combating money laundering are recommendations that banks implement measures to assist in the identification of dual-use goods in trade transactions. The guidance from Hong Kong and Singapore specifically highlights the expectation that financial institutions be proactive in monitoring all aspects of a trade: understanding what companies are involved, the nature of the goods, the ability to rationalize the pricing of the goods, the ships’ ports of call and routes and the beneficiaries of a transaction.

例如，新加坡金融管理局 (MAS) 发布规定，要求对两用物项进行贸易融资筛查。《香港银行公会打击洗钱指引》建议银行采取措施，协助识别贸易中的军民两用品。中国香港和新加坡的指引特别强调，金融机构应当积极监测贸易各个方面，包括：了解涉及的公司、商品性质、商品价格合理性、船舶停靠港和航线，以及交易受益方。

Also in Asia Pacific, the Supervisory Committee of the Bankers Association of the Republic of China, the key industry association for China Taiwan’s banking sector, recommends that financial institutions formulate appropriate reviewing procedures for dual-use goods. The Indian Banks Association also circulated similar guidance. Regulators in Asia-Pacific have also held more talks with financial institutions on trade-based anti-money laundering (AML) with regard to dual-use goods than either European or U.S. regulators have in the past few years.

同样，在亚太地区，中国台湾的主要行业协会——银行家协会 (Bankers Association) 的监督委员会建议金融组织制定适当的两用物项审查程序。印度银行协会 (Indian Banks Association) 也发布了类似的指引。另外相比欧洲或美国监管机构，过去几年，亚太地区监管机构更多地就贸易反洗钱 (AML) 问题与金融组织展开对话。

In Europe, the Financial Conduct Authority in the U.K. set some regulatory expectations, while the European Commission has drafted guidance to help identify and manage the impact of dual-use goods. U.S. banks have a substantive obligation under export control laws to catch and report any financial transaction involving potential export control violations irrespective of a dual use designation. FinCEN and BIS have issued several joint notices alerting financial institutions to red flags related to unlawful export transactions and directing them to file suspicious activity reports under the Bank Secrecy Act if they suspect that a transaction relates to a violation.

在欧洲，英国金融市场行为监管局 (Financial Conduct Authority, FCA) 设定了监管期望，同时欧盟委员会(European Commission) 起草了指引，帮助识别和管理军民两用品。根据美国出口管制法，美国财政部金融犯罪执法局（FinCEN）和美国商务部工业和安全局 (BIS) 发布多份联合通知，提醒金融组织注意非法出口交易的危险信号，并要求金融组织在发现交易涉嫌违规时，根据《银行保密法案》进行举报。受美国管辖的金融机构需要举报任何涉嫌违反出口管制的金融交易，无论是否被认定为军民两用品。

In the United States, recent events also leave little doubt that export control enforcement is now a U.S. government priority.The U.S. Department of Justice and the U.S. Department of Commerce have formed a Disruptive Technology Strike Force[i] with a mission to identify and punish violations of export control laws. The Strike Force has been quite successful in carrying out their mandate.[ii] As with Asia and Europe, it has become increasingly clear that U.S. authorities are looking to banks to play an active role in stemming the flow of sensitive technologies around the world. FinCEN and BIS have issued several joint notices alerting financial institutions to red flags related to unlawful export transactions and directing them to file suspicious activity reports under the Bank Secrecy Act if they suspect that a transaction relates to a violation.[iii] In light of this enforcement priority, to maintain compliance and out of the regulator’s crosshairs, banks must integrate export controls into their due diligence programs. Export control management is an area of international trade compliance for which most banks have little experience to date.

在美国，近期一系列事件也充分表明，如今出口管制是美国政府的重点战略。美国司法部和美国商务部组建了颠覆性技术打击小组 (Disruptive Technology Strike Force)[i]，任务是调查和惩罚出口管制违规行为。该小组在打击出口管制违规方面取得了巨大成果。[ii] 与亚洲和欧洲一样，美国政府也愈加希望银行发挥积极作用，限制敏感技术的全球流动。FinCEN 和美国商务部工业和安全局发布多份联合通知，提醒金融组织注意非法出口交易的危险信号，并要求金融组织在发现交易涉嫌违规时，根据《银行保密法案》进行举报。[iii]因此，为了保持合规，不被监管机构盯上，金融组织必须将出口管制纳入尽职调查。出口管制管理属于国际贸易合规范畴，迄今为止，大多数金融机构在这方面几乎毫无经验。

What do dual-use and controlled goods lists include?

两用品和管制物品清单都包括什么？

While there are some differences among country-specific dual-use goods controls lists and guidance, most lists are similar to one another owing to their shared origin in the Wassenaar Arrangement and other multilateral regimes. To that end, tracking dual-use goods may seem a straightforward task in theory, but in practice, it is both arduous and resource-intensive.

虽然不同国家的两用物项管制清单和指引存在一些差别，但大多数清单都大同小异，都源于《瓦森纳协定》和其他多边机制。追踪两用物项看似简单，但实际上非常困难，需要耗费大量资源。

Here’s why:

这是因为：

There is no universal language for describing the goods being traded. The documentation used on shipping bills of lading or SWIFT letters of credit can be very different from the way a regulator may describe a regulated good.

没有一种通用语言来描述交易商品。提货单或 SWIFT 信用证使用的描述可能与监管机构对管制物品的描述大不相同。

There is no requirement for dual-use goods to be described in the shipping bill of lading or SWIFT letter of credit in the same manner as on the restricted goods lists published by regulators. In fact, the terms used to describe goods in bills of lading or letters of credit usually do not match the formal terms regulators use to describe dual-use goods.

没有相关规定，要求提货单或 SWIFT 信用证采用监管机构管制物品清单中的方式描述两用物项。事实上，提货单或信用证中描述商品的用语，常常与监管机构的官方用语不符。

As a result, financial institutions tasked with tracking dual-use goods using broad terms can end up with hundreds of false positives and incur additional costs; they need a combination of industry expertise and accurate and actionable data to enable transaction screening. For instance, one item on the Wassenaar Arrangement list is “unmanned aerial vehicles,” more commonly known as drones. Drones are extremely popular consumer items, so flagging all transactions involving drones would create a lot of false positives.

因此，如果金融组织使用广义用语追踪两用物项，最终可能出现多个误报，产生额外成本。金融机构需要具备专业知识，同时要有准确数据，这样才能有效筛查。例如，《瓦森纳协定》清单上的“无人驾驶飞行器”，就是通常我们所说的无人机。无人机属于热门消费品，因此如果标记所有涉及无人机的交易，将会产生大量误报。

To accurately identify and flag only relevant transactions involving the types of drones that regulators care about, companies need to know what regulators are looking for. In this case, they are interested in medium altitude long endurance drones, commonly known as MALE drones, which are slightly larger drones that can fly at high altitudes for long distances. MALE drones have legitimate applications in both civilian and military environments but are restricted due to their potential use as defense equipment for intelligence, surveillance and precision target designation. Tonarrow the field even further and to determine particular models of concern, companies need to know some of the prominent manufacturers or brand names.

要想准确识别和标记涉及受管制无人机的交易，需要知道监管机构具体对哪种无人机实施管制。例如，高空长航无人机，通常称为 MALE 无人机，这种无人机体形较大，可以高海拔远距离飞行。MALE 无人机在民用和军事领域都有合法应用，但是由于可作为国防装备，用于情报搜集、监视和精确打击，因此受到管制。要进一步缩小范围，甚至确定具体型号，对于一些知名的无人机制造商或品牌名称也要了解。

Some goods, or the materials contained within goods, are difficult to identify. Dual-use goods lists and related guidance tend to contain overly-technical terms, centering on a particular diameter of tubing or tensile strength, for example. Other terms may be too broad and/or generic, such as the term “unmanned aerial vehicles,” which can refer to a wide range of items, including non-dual-use goods. In either case, it is challenging to properly categorize certain goods.

有些商品或商品中所含的材料难以识别。两用物项清单和相关指引中往往包含一些专业术语，例如，管道直径中心距或抗拉强度。也可能有一些用语过于宽泛，例如“无人驾驶飞行器”，范围很广，其中包括非两用品。无论哪种情况，要准确识别商品都是一个挑战。

A list of dual-use goods typically contains thousands of items and many types or categories of goods. Some of the items are relatively straightforward, such as uranium. But take, for example, 7068 aluminum alloy, which has a tensile strength comparable to some metals. Many items are made from this material, including inline skates, custom aluminum bicycles and AK-47s. This type of aluminum alloy is listed on the Wassenaar Arrangement list of dual-use goods as an aluminum alloy that has a tensile strength of 240 MPa or more at 473 K or a tensile strength of 415 MPa or more at 298 K. Certain types of aluminum alloy have a proper trade name but go by a different, shorter phrase when described in a shipping log. Identifying different types of aluminum alloy can become even more onerous, as there are no standardized goods codes that are specific enough to minimize false positives.

一份两用物项清单通常包含很多种商品，商品数量多达数千个。其中一些相对简单，例如铀。但以 7068 铝合金为例，抗拉强度与某些金属相当。许多商品都是用这种材料制成，包括直排冰鞋、定制铝自行车和 ak -47。在《瓦森纳协定》两用物项清单中，这种铝合金被描述为 473 K 时抗拉强度 240 Mpa 或以上，或 298 K 抗拉强度 415 Mpa 或以上。某些类型的铝合金有正式的商品名称，但在提货单中可能使用其他简称。而要识别不同类型的铝合金更加困难，因为缺少标准化的商品代码，可能产生大量误报。

Understanding what goods match with the terms provided in regulatory guidance takes expertise and experience. One must know both what types of common items might be made of this material, as well as whether or not it meets the tensile strength requirements.

要想准确匹配管制清单，需要具备专业知识和经验。需要知道哪些普通商品可能使用这种材料，以及抗拉强度是否合规。

Add these challenges to the fact that most bank employees are not necessarily experts on the goods that are being exchanged and that banks fund several different transactions across industries. The interpretation of “dual-use” requires a degree of technical knowledge that financial institutions’ staff cannot be expected to possess.1 As a result, financial institutions trying to track dual-use goods using broad terms can end up with hundreds of false positives and incur additional costs.

大多数金融机构的员工并不具备这样的专业物品知识，而且金融机构处理的交易往往五花八门，涵盖各种行业。判断“两用物项”需要一定的专业知识，金融工作人员的确难以做到。因此，如果金融机构使用广义用语追踪两用物项，最终可能出现数百个误报，产生额外成本。

What’s the best way forward?

最好的方法是什么？

Put clear policies in place:

制定明确的筛查程序：

Throughout a trade transaction, financial firms should have procedures to conduct checks for and identify dual-use goods, regardless of their role in the transaction. Because trade finance deals are a high-volume business, involve multiple parties from numerous territories and often are largely paper-based, using letters of credit or bills of lading (which require manual documentation in screening systems), the most effective trade compliance programs tend to consist of a mix of automated screening in conjunction with manual checks.

在整个贸易交易过程中，金融机构无论扮演何种角色，都应该拥有相关物项筛查程序，用于检查识别两用物项。由于贸易融资交易量庞大，涉及来自多个地区的多个交易方，而且通常是纸质化流程，使用信用证或提货单（需要在筛查系统中手动输入），因此最有效的方法就是自动筛查与人工检查相结合。

Screening should occur at several points throughout the lifespan of a trade finance transaction process and be done by adequately trained professionals that are aware of dual-use goods licenses, as well as the common types of goods that have dual-use traits.2 Ultimately, when vague wording in goods descriptions makes it challenging to identify the nature of the goods, financial institutions should have clear processes in place to escalate the questionable cases to the export controls compliance staff for further investigation.3 Financial institutions with well-documented and well-maintained risk-mitigating controls for trade flowing through their networks are better prepared to audit financial crime risks (and if needed, share the steps with the appropriate regulator, despite the increasingly complex regulatory environment.

在整个贸易融资交易过程中，由经过充分培训的专业人员进行多点筛查。专业人员应了解两用物项的许可要求，以及具有两用物项特征的常见商品类型。金融机构应制定明确的程序，如果商品描述模糊，难以确定商品性质，将可疑商品上报给出口管制合规人员做进一步调查。尽管监管环境日益复杂，但如果金融机构能够针对贸易交易制定完善、健全的风险缓释措施，就可以更好地开展金融审计，防范金融犯罪风险（而且如果需要，还可与相关监管机构分享审计流程）。

Why quality screening data matters

为什么高质量的筛查数据很重要？

At Dow Jones, we recognized the need to create a more effective, actionable data set that firms involved in international trade could rely on for fewer, more relevant screening results. The result? A practical matrix that condenses the 240-page Wassenaar Agreement list along with the other multilateral export control regimes into structured data that includes the conventional, real-world terms seen in industry documentation to describe the goods being shipped. This proprietary list of commercial terms is compiled and maintained by a research team that draws on industry knowledge, researchers conduct targeted searches on Factiva, a Dow Jones-owned comprehensive global news database featuring content from more than 33,000 sources, with more than a million stories added every day. Owing to the complexity of the information, the researchers also analyze official government websites and research papers.

我们意识到，需要创建一个更有效、更实用的数据集，为参与国际贸易的企业提供更精简、更准确的筛查结果。因此，一个浓缩了数百页《瓦森纳协定》清单和其他多边出口管制机制的结构化数据集就此诞生，其中广泛收集了行业资料中的常规用语。研究人员利用行业知识，通过在 Factiva 上创建了商业术语表。Factiva 是道琼斯公司旗下的全球资讯数据库，拥有超过 33,000 个数据源，每天新增 100 多万篇报道。由于这些数据十分复杂，研究人员还分析了政府官网和研究论文。

With Dow Jones’ list, companies have access to regulatory item descriptions (which explain what the equipment or material is or can be used for) and match phrases. Match phrases can include language that the industry uses to describe goods, which may include jargon and actual brand or product names. The data also includes item descriptions, matched goods codes and information on regional restrictions.

通过道琼斯的清单，可以轻松查阅管制物品描述（解释设备或材料特性或用途）和 常用匹配用语。匹配用语包括行业用语，包含专业术语和品牌，或产品名称。其他数据还包括商品描述、匹配的商品代码，以及物项管制信息。

Taking proactive measures

采取积极措施

Dual-use goods are just one part of a broaderdue diligence process. Organizations such as the Financial Action Task Force, the Wolfsberg Group and the Joint Money Laundering Steering Group have put a spotlight on how criminal organizations misuse trade finance to launder money.

两用物项只是尽职调查的一部分。犯罪组织滥用贸易融资非法洗钱引起了金融行动特别工作组 (Financial Action Task Force, FATF)、沃尔夫斯堡集团 (Wolfsberg Group) 和反洗钱联合指导小组 (Joint Money Laundering Steering Group) 等组织的高度关注。

And although the responsibility of complying with trade-related regulatory requirements historically fell mainly on the exporting companies, regulators are now calling on all organizations that facilitate these transactions to enforce more stringent protocols.

虽然一直以来，遵守监管要求主要是出口经营公司的责任，但监管机构现在呼吁所有交易参与方采取严格措施，遵守监管要求。

Global authorities continue to ramp up focus on export controls as a strategic priority for international security and foreign policy. This impacts not only companies engaged in cross-border trade, but financial institutions that support such trade. As a result, regulators and various agencies increasingly are calling on financial institutions to monitor their trade financing businesses and implement controls.

随着各国政府在国际安全和外交事务中将出口管制作为重点战略，持续加大监管力度，不仅是从事跨境贸易的企业，为此支持实体经济发展的金融机构也受到影响。因此，监管机构和各部门大力呼吁金融机构监控贸易融资业务。

Global sanctions evasion and circumvention experts agree that international trade financing carries special risk. As a result, banks can face liability for providing services in support of unlawful exports, whether or not the violations were intentional.[iv] This new compliance and enforcement focus calls for the deliberate incorporation of export control risk into a banks’ diligence processes. Export controls are widely considered more complex and far-ranging than anti-money laundering and sanctions risks.

全球贸易合规专家普遍认为，国际贸易融资存在特殊风险。金融机构可能会因为在服务过程中资助非法出口而面临法律追责（无论有意还是无意）。[iv] 随着合规执法重心的转变，要求金融机构将出口管制风险纳入尽职调查范围。相比反洗钱和制裁风险，出口管制风险更为复杂、范围更广。

To tackle this issue effectively, it would be wise for banks to incorporate pertinent export control threat factors, including: the nature and sensitivity of the items exported; the industry of the underlying transaction; the involvement of parties restricted under export control lists, such as the BIS Unverified and Entity List; destination-based risk such as CIS countries acting as a diversion hub for Russia, or countries that are restricted for certain sensitive technology (e.g., Iran); and the presence of red flags.

为有效避免这一风险，金融机构应调查相关的出口管制风险因素，包括：出口商品的性质和敏感性；标的交易所属行业；交易参与方是否受出口管制清单（如 BIS 未经核实清单、实体清单）管制；目的地的风险，（例如，为俄罗斯转移货物的国家），或某些敏感技术受到管制的国家（例如，伊朗）；以及是否存在危险信号。

Why quality screening data matters

Dow Jones Risk & Compliance is a global provider of Governance, Risk and Compliance solutions.

道琼斯风险合规是一家全球化的治理、风险与合规解决方案提供商。

For more information on dual-use goods screening data or our web-based lookup tool for sanctions, goods and vessel screening and monitoring, contact risk@dowjones.com.

如您需要详细了解：两用物项筛查、反洗钱黑名单、国际制裁清单、制裁控制及所有权名单（50%规则）、受益所有人、高风险国家城市与港口、船舶筛查和追踪工具等，请联系 risk@dowjones.com。

By Dow Jones Risk & Compliance team / Edited by Johnson Ma

参考资料：

References

[i]https://www.justice.gov/opa/pr/justice-and-commerce-departments-announce-creation-disruptive-technology-strike-force 

[ii]https://www.justice.gov/opa/pr/fact-sheet-disruptive-technology-strike-force-efforts-first-year-prevent-sensitive 

[iii]https://www.fincen.gov/sites/default/files/2022-06/FinCEN%20and%20Bis%20Joint%20Alert%20FINAL.pdf 

https://www.bis.doc.gov/index.php/documents/enforcement/3272-fincen-and-bis-joint-alert-final-508c/file 

https://www.fincen.gov/sites/default/files/shared/FTA_Russian_Export_Controls_FINAL_508.pdf

[iv]Trade Finance Principles. The Wolfsberg Group, ICC and BAFT, 2019, Trade Finance Principles. Link .

[v]Best Practices for Countering Trade-Based Money Laundering.  AML/CFT Industry Partnership, May 2018, Link .