{"id":4434,"date":"2023-12-01T14:39:02","date_gmt":"2023-12-01T10:39:02","guid":{"rendered":"https:\/\/www.fiumauritius.org\/fiu\/?p=4434"},"modified":"2023-12-01T14:39:04","modified_gmt":"2023-12-01T10:39:04","slug":"protecting-non-profits-from-abuse-for-terrorist-financing-through-risk-based-implementation-of-revised-fatf-recommendation-8","status":"publish","type":"post","link":"https:\/\/www.fiumauritius.org\/fiu\/?p=4434","title":{"rendered":"Protecting non-profits from abuse for terrorist financing through risk-based implementation of revised FATF Recommendation 8"},"content":{"rendered":"\n<p>On 16<sup>th<\/sup> November 2023, the Financial Action Task Force (FATF) amended Recommendation 8 and its Interpretative Note to address the misapplication and misinterpretation of Recommendation 8, that had led countries to apply disproportionate measures on Non-Profit Organisations (NPOs). \u00a0Implementing proportionate and risk-based measures are crucial for an effective approach in identifying, preventing and combatting TF abuse of NPOs. Some updates from the report include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>As per R.8, countries need to periodically identify organisations that fall within the definition of NPOs and assess the TF risks that they faced;<\/li>\n\n\n\n<li>R.8 now requires countries to implement focused, proportionate and risk-based measures to address TF risks identified; and<\/li>\n\n\n\n<li>R.8 clarifies that countries must ensure oversight or monitoring of NPOs, but they need not designate and supervise NPOs as reporting entities or require them to conduct customer due diligence.<\/li>\n<\/ul>\n\n\n\n<p>The document can be accessed\u00a0<a href=\"https:\/\/www.fatf-gafi.org\/content\/fatf-gafi\/en\/publications\/Fatfrecommendations\/protecting-non-profits-abuse-implementation-R8.html\">here.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On 16th November 2023, the Financial Action Task Force (FATF) amended Recommendation 8 and its Interpretative Note to address the misapplication and misinterpretation of Recommendation 8, that had led countries to apply disproportionate measures on Non-Profit Organisations (NPOs)<\/p>\n","protected":false},"author":12,"featured_media":4436,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-4434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=\/wp\/v2\/posts\/4434","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4434"}],"version-history":[{"count":2,"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=\/wp\/v2\/posts\/4434\/revisions"}],"predecessor-version":[{"id":4437,"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=\/wp\/v2\/posts\/4434\/revisions\/4437"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=\/wp\/v2\/media\/4436"}],"wp:attachment":[{"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fiumauritius.org\/fiu\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}