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AML Update Service extract for :
Registered Charities
Change Date : | Word Count: 148 | Deployment Measure : 8/10
Rationale:
Organisations formed as charities or nonprofits are increasingly being misused to finance terrorism. Donating to such entities supporting terrorism is a severe criminal offence, making charity-related transactions high-risk, not low-risk. This draft AML policy wording sets out concerns and action for lawyers to take where there are suspicionsIt is increasingly common for entities to be established as charities or not-for-profit organisations and subsequently misused to facilitate the financing of terrorism. The donation of illegitimate funds to such
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