Australian national risk assessment into the NP sector discusses terrorist financing and AML

August 30, 2017 | By: .(JavaScript must be enabled to view this email address) Mark Blumberg
Topics: News, Canadian Charity Law, Global Giving, Ethics and Canadian Charities, Avoiding 'Charity' Scams

An interesting new report from The Australian Charities and Not-for-profits Commission (ACNC) as well as the Australian Transactions Reports and Analysis Centre (AUSTRAC) published on August 28, 2017 looked at "the risk of money laundering and terrorism financing in the not-for-profit sector, key vulnerabilities and risk indicators of high-risk organisations, groups of high-risk organisations that will benefit from targeted outreach and support, vulnerabilities that could be exploited to support terrorism, and a strategy to counter these vulnerabilities".

You can read the full report at http://www.acnc.gov.au/nfprisk 

It is interesting to note that the report found that the overall risk rating for both terrorism financing  and money laundering is "medium".

The report also contains very interesting statistical information on the charity sector in Australia, information on regulation and transparency with non-profits, as well as helpful discussion around the threat posed by terrorist financing and money laundering.  

Do you require legal advice with respect to Canadian or Ontario non-profits or charities?

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Charity Lawyer Mark Blumberg

Mark Blumberg is a partner at the law firm of Blumberg Segal LLP in Toronto and works almost exclusively in the areas of non-profit and charity law.

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