Protecting Non-Profits from Terrorist Financing Threats
· Posted on: January 24th 2025 · read
Understanding the risks non-profit organisations face from terrorist financing schemes
The Financial Action Task Force (FATIF) is an inter-governmental body which sets international standards that aim to prevent money laundering, terrorist and proliferation financing (the funding of nuclear, chemical, or biological weapons).
Their recommendations set out a framework of measures which countries should implement; FATF’s Recommendation 8 relates to combating the terrorist financing abuse of NPO. The Charity Commission for England and Wales is currently undertaking a review of the UK’s NPO sector, in accordance with FATF’s Recommendation 8, to help HM Government assess its vulnerability to terrorist financing. They are seeking information from UK’s voluntary sector and wider civil society to help them identify and understand potential vulnerabilities, trends and threats in respect of the risk of terrorist financing abuse.
The FATF definition of a NPO refers to a legal person or arrangement or organisation that primarily engages in raising or disbursing funds for purposes such as charitable, religious, cultural, educational, social or fraternal purposes, or for the carrying out of other types of “good works”.
The Commission encourages all NPOs to provide feedback, regardless of whether they are a charity and whether they operate in the UK.
If you wish to do so, there is an online questionnaire available until the end of 31 January 2025.
