The Financial Action Task Force (FATF) is looking to revise its current recommendations aimed at safeguarding non-profit organisations (NPO) from being abused for terrorist financing, to ensure that they do not hurt these organisations’ legitimate activities instead.
At its October plenary, the FATF will take up proposals to revise the FATF Standards’ Recommendation 8 on non-profits, and its interpretive note, and also adopt an updated best practices paper on this issue. The deadline for public comments on these proposals is August 18.
In June 2022, the plenary had agreed to consider amending the recommendation and established a project team for this purpose. Subsequently, a draft amendment was prepared.
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