Question tag: AML
2 QuestionsWhat 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 […]
What is “beneficial ownership” and what does it mean for our NPO?
I've been reading through some of the new requirements for NPOs and I keep coming across the term 'beneficial ownership' and I genuinely don't understand what it means in our context. I get what it means for a regular business but for a non-profit it seems different. Is it just about who's on the board? […]