Correct. The present system works. Thanks for the reminder of why we have the system.
The present system that you speak of is simply the laws of nature. Osama was not limited by Western governments' intent.
The present system is the Non-Proliferation Treaty and the various treaties that prevent unauthorised access to uranium. You are proposing removing these regulations.
If the consequence of removing the regulation of nuclear materials is that the likes of Osama bin Ladin can make their own nukes, are you still in favour of that policy?