Announcement Date: June 16, 2017
The importance for charities and charity monitoring agencies to engage with policy makers around preventing terrorism financing and money laundering was debated at the annual conference of the International Association of National Charity Monitoring Agencies (ICFO) on 16th June 2017 in Berlin.
The EFC on behalf of a wider NPO Coalition of FATF presented the revised Financial Action Task Force policy Recommendation 8 on the non-profit sector and how its national implementation is monitored via national evaluations.
The full-day meeting brought together leaders of institutions that provide independent monitoring and certification of charities from Austria, Brazil, Canada, China, Czech Republic, France, Germany, Italy, Japan, Luxembourg, Mexico, The Netherlands, Norway, Spain, Sweden, Switzerland, Taiwan, the Ukraine and the United States. Representatives from China and India presented some challenges and opportunities in their respective countries.
Participants were informed that governments have to take a risk-based approach and identify proportionate and targeted measures to address the potential risks of abuse of the non-profit sector. They learned about the FATF country evaluation process and how they could engage around this. Concrete examples of NPO engagement in FATF country evaluations in Belgium, Norway and Switzerland were illustrated, and an outlook provided for the upcoming German evaluation. For more see here.