Financial Action Task Force

Summary: Does the FATF Help or Hinder Financial Inclusion? A Study of FATF Mutual Evaluations

In Does the FATF Help or Hinder Financial Inclusion? Mike Pisa of the Center for Global Development examines whether the Financial Action Task Force’s (FATF) Risk Based Assessment (RBA) approach helps developing countries implement its anti-money laundering (AML) and countering the financing of terrorism (CFT) standards without increasing financial exclusion. The report includes nonprofit organizations (NPOs) among entities facing challenges with access to the financial system. It finds that in some instances,

2019-07-19T08:55:09-04:00June 10th, 2019|Abstracts, Financial Action Task Force|

Abstract: Anti-Money Laundering and Countering the Financing of Terrorism

In Untangling a Marriage of Convenience: Anti-Money Laundering and Countering the Financing of Terrorism, authors Tracey Durner and Danielle Cotter argue that, although anti-money laundering (AML) and countering the financing of terrorism (CFT) efforts have much in common, this melding places “undue burden on the private sector to understand the intent of criminals behind the actual transactions.” Some even contend that “misguided” CFT policies are leading to ineffective, and perhaps

Global NPO Coalition on FATF Presents: ABCs for Risk Assessment of the Nonprofit Sector in Your Country

The Global NPO Coalition on FATF Presents:  ABCs for Risk Assessment of the Nonprofit Sector in Your Country Friday, March 9, 2018 View the Recording   Ever since FATF revised its Recommendation 8 on nonprofit organizations in 2016, countries must conduct a terrorist financing risk assessment of the nonprofit sector. FATF requires government outreach to NPOs for these assessments, which are supposed to shape targeted, proportionate measures that only

2019-07-30T08:05:31-04:00March 9th, 2018|Blog, CSN Events, Financial Action Task Force|

Case Study: U.S. Nonprofit Organizations and the FATF Mutual Evaluation Process 2015-16

This case study of the Financial Action Task Force’s (FATF) evaluation of the United States, which took place in 2015-2016, reviews the experience of nonprofit organizations (NPOs) seeking to provide input to the evaluation team and makes recommendations to make the process for stakeholder input more transparent and streamlined. It describes efforts by the Charity & Security Network and Council on Foundations to address the problem of over-regulation of NPOs under

2019-07-19T08:27:20-04:00November 20th, 2017|Analysis, Financial Action Task Force|

FATF Adopts Guidance on Bank Customer Due Diligence

At its November 2017 plenary session the Financial Action Task Force (FATF) approved two documents relevant to nonprofit financial access concerns. First FATF adopted a customer due diligence supplement to its 2013 FATF Guidance Anti-Money Laundering and Terrorist Financing Measures and Financial Inclusion. These are combined in one document.  While focused on individuals/natural persons rather than nonprofit organizations (NPOs), the new guidance is relevant in that it demonstrates FATF’s

2019-07-04T07:48:23-04:00November 20th, 2017|Financial Action Task Force, News|

Charity & Security Network Submits Comments on Saudi Arabia’s Treatment of NPOs for FATF Evaluation

The Financial Action Task Force’s (FATF) Recommendation 8 (R8) on Nonprofit Organizations (NPOs) is among 40 standards it uses to evaluate country anti-money laundering/counterterrorist financing programs. FATF is now conducting an evaluation of the Kingdom of Saudi Arabia, with a report due in the summer of 2018.  Under FATF procedures the June 2016 revised R8, which requires countries to apply a risk-based, proportionate approach to anti-terrorist financing regulation of NPOs,

2019-07-04T07:58:14-04:00November 7th, 2017|Financial Action Task Force, News|

Report Examines FATF Recommendations as Vehicle for Closing Civil Society Space in Nigeria

Prior to its revision in 2016, the Financial Action Task Force's Recommendation 8 referred to nonprofit organizations as "particularly vulnerable" to terrorist abuse. As a result, many countries implemented laws and policies designed to curb this perceived risk. As a result, NPOs have faced increased scrutiny and legal constraints, shrinking the space for charitable work. A report from Spaces for Change in Nigeria, Closing Spaces for Civil Society and

Report: Impact of Banking Restrictions on UK NGOs

Like their American counterparts, British NGOs working in or near areas where non-state armed groups are active increasingly face restrictions on their access to the financial system, according to a 2017 report from Chatham House, Humanitarian Action and Non-state Armed Groups: The Impact of Banking Restrictions on UK NGOs. This may include delayed transfers, the freezing of funds, and closure of bank accounts. The report, like many before it, tie

Report Examines Impact of FATF on Civil Society

Financial Action Task Force (FATF) Recommendation 8 and FATF recommendations following evaluations add to the restrictions faced by civil society organizations, according to a new report from Bread for the World, The Impact of International Counterterrorism on Civil Society Organisations: Understanding the Role of the Financial Action Task Force. Asserting that the links between measures that fight the financing of terrorism and civic space are not known widely, the report aims to

Two New Reports Laud Work of Global NPO Coalition on FATF

The Global NPO Coalition on FATF, co-chaired by the Charity & Security Network, plays an important rule in ensuring that recommendations for country-level counter-terrorism finance policies respect human rights and the important role of civil society. Two new reports praise the coalition's work. Financial Action Task Force (FATF) Recommendation 8 and FATF recommendations following evaluations add to the restrictions faced by civil society organizations, according to a new report from Bread for the

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