FATF REVISES GUIDANCE TO PREVENT EXCESSIVE CFT CHECKS ON CHARITIES WITH LOW RISK OF ABUSE BY TERRORISTS
November 28th, 2023
FATF has reformed its recommendation 8 on the terrorist financing abuse of non-profit organisations (NPOs) to ensure that many charities, associations, trade unions, research units and advocacy groups are not targeted by CFT action. It has defined the kind of non-profits that governments should assess for potential TF abuse to better focus such law enforcement, limiting it to non-profits that raise or disburse funds, including spending it on good works. And the new recommendation also stresses that governments take “proportionate and risk-based measures to ...
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