Questions about FATF Recommendation 8, AML/CFT obligations, and the 2024 legislative changes for NPOs.
What does FATF Recommendation 8 mean for our NGO?
I've been seeing a lot about FATF and the 2024 legislative changes in newsletters from sector bodies but I honestly don't understand what it means for us on the ground. We're a small community organisation — after-school programmes, community events, nothing that sounds remotely like money laundering. Does FATF Recommendation 8 actually affect small organisations […]
Has our CSO been removed from some banking restrictions due to the 2024 legislative changes?
We've had an ongoing nightmare trying to maintain a proper bank account for our organisation. Our previous bank essentially told us they weren't comfortable with NPO accounts and we've had to move around. Someone at a recent sector meeting mentioned that a law change in 2024 removed NPOs from some kind of list that was […]