FATF sharpens aim at not-for-profit terrorist financing risk with Recommendation change

The Financial Action Task Force (FATF) has reformed 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 for counter financing of terrorism (CFT) measures.

By Keith Nuthall

The Financial Action Task Force (FATF) has reformed 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 for counter financing of terrorism (CFT) measures.