The Financial Action Task Force (FATF) is an intergovernmental policy-making body that sets anti-terrorist financing and anti-money laundering standards. These standards are used to assess the adequacy of laws and regulations in nearly every country in the world. Since 9/11, FATF has increased its focus on regulation of financial services and charities. In doing so, it created Recommendation 8 (R8) on laws relating to nonprofit organizations. Although FATF has taken positive steps since 2012 to prevent abuse or misapplication of its program, more needs to be done to ensure that anti-terrorist financing laws cut the flow of money to terrorists, not to civil society. CSOs must pay close attention to the workings of FATF to prevent new laws that impede their work.
Global NPO Coalition on FATF
Since 2012, the Global NPO Coalition on FATF has helped civil society raise its voice with FATF at the national level. It has coordinated responses to draft revisions of FATF’s Best Practices Paper and Typology Report, as well as working to develop a formal consultation process with FATF. More recently, it has worked for changes in R8 and its accompanying Interpretive Note (see p. 54).
Featured Resources
Webinar Recording Now Available
The ABCs of FATF: What Nonprofits Need to Know in 2017 and Beyond Recording Now Available A new international standard for government regulation of nonprofit organizations (NPOs) was published by the Financial Action Task Force (FATF)
Report Summarizes Outcomes of Multi-Stakeholder Meeting on FATF’s Evaluation Process
A new report, Enhancing Effective Implementation of FATF Standards on Nonprofits: Lessons learnt from mutual evaluation processes, summarizes the main discussion points and recommendations from a September 2016 a meeting with representatives of governments, nonprofit
FATF Releases New Evaluation of US
The Financial Action Task Force (FATF) released the results of its Mutual Evaluation of the United States on Dec. 1, 2016, assessing compliance with its 40 anti-terrorist financing and anti-money laundering standards, including Recommendation 8 (R8) on
FATF’s 2016 Evaluation of the U.S. – Summary and Analysis
The Financial Action Task Force released the results of its Mutual Evaluation of the United States on Dec. 1, 2016, assessing compliance with its 40 anti-terrorist financing and anti-money laundering standards, including Recommendation 8 (R8) on nonprofit
FATF Releases New Evaluation of U.S. – Nonprofit Recommendation Addressed
The Financial Action Task Force (FATF) released the results of its Mutual Evaluation of the United States on Dec. 1, 2016, assessing compliance with its 40 anti-terrorist financing and anti-money laundering standards, including Recommendation
FATF Updates Evaluation Criteria to Match Revised Recommendation 8
The Financial Action Task Force (FATF) made important changes to the criteria it will use to evaluate countries' implementation of Recommendation 8 (R8), its standard for government anti-terrorist financing regulation of nonprofits, at its