Dual-use goods (DUG), specifically defined as items having commercial and military or proliferation applications, are subject to a variety of export restrictions and controls set by national and/or international agencies. These can sometimes be in the form of sanctions but usually take the shape of licencing requirements placed upon corporates.The concept of DUG intersects several areas of financial crime compliance within the financial services industry, including proliferation financing, export controls and trade sanctions. Financial institutions (FI) should remain cognisant of these convergences, as regulatory expectations may differ and bring products outside of trade finance and trade services into scope. For example, under UK and EU sanctions legislation, the definition of the provision of “financial services” and “financial assistance” in relation to the movement of DUG, is broad, requiring a wider assessment of the risks and controls. FI are aware of the requirement to have appropriate risk-based controls to identify transactions which involve such goods, while regulators continue to highlight the need for FI to have in place appropriate controls and identification methods, for example, as noted by the UK Prudential Regulation Authority and Financial Conduct Authority ‘Dear CEO Letter’ on Trade Finance Activity, published in September 2021. In certain jurisdictions, regulators may specifically require FI to undertake screening of specified lists of goods, as seen in the UAE.