Non-Profit Organisations
Non-Profit Organisations (NPOs)
The use of Non-Profit Organizations (NPOs) for criminal activities such as money laundering, terrorism financing, tax evasion, corruption, and fraud has become a significant global concern. There is evidence showing that some NPOs can be exploited for terrorism financing and other crimes. To address this issue, the Financial Action Task Force (FATF) initiated a major effort in 2003 by including NPOs in its Special Recommendation VIII, which requires countries to assess their laws and regulations regarding NPO governance to prevent misuse by terrorist organizations for financing terrorism.
Countries are now obligated to review their non-profit organizations (NPOs) to protect against money laundering, terrorist financing, and other criminal activities. Our experts specialize in advising on policies and regulations for NPOs, providing guidelines and assistance for NPOs to conduct risk assessments and implement AML/CFT measures, and educating authorities on the transparency of NPOs.
Our key experts are specialised in:
Assessing the current AML/CFT regulatory framework for NPOs
Developing and advising on policies, laws, and regulations related to NPOs
Creating guidelines for the establishment and operation of non-profit organizations to prevent ML/TF abuse
Providing guidance for NPOs to conduct risk-based ML/TF assessments
Offering technical assistance to countries to meet FATF standards and complete National Risk Assessments
Providing support to NPOs in implementing AML/CFT risk management programs to prevent ML/TF abuse
Identifying and discussing internationally recognized ML/TF risks related to NPOs
Holding workshops or training sessions for competent authorities to promote transparency in NPOs.