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  • Financial Access Working Group Seeking Signatures to Its Letter to US Treasury, State | Charity & Security Network
    bank examiners require them to conduct extensive due diligence on NPOs which can take substantial time and resources A recent report from the Center for Global Development CGD demonstrates that anti money laundering and anti terrorist financing rules have created pressures that make financial institutions more risk averse A report from the Global Center for Cooperative Security and Oxfam America finds the recent trend of bank account closures is a result of a number of factors including aggressive enforcement as well as bankers and examiners negative attitudes towards NPOs with activities in jurisdictions perceived to be high risk Without positive incentives to offer services to NPOs banks risk reward calculation will continue to be weighted towards de risking Given the central role the U S plays in international finance this impacts NPOs globally The Financial Action Task Force FATF has called on member states to take a risk based proportional approach to counterterrorism financing regulation including protecting NPO access to the formal financial system While the U S government says that banks should undertake a careful assessment of the risks and the tools available to manage and mitigate those risks that policy has not been translated into concrete action that removes current disincentives for banks to provide services to nonprofits It is clear that U S law has not caught up with FATF guidance and financial institutions are still fearful of harsh penalties which results in dropping NPO customers U S counterterrorism finance regulations will be judged by FATF on their effectiveness during the upcoming mutual evaluation Regulatory regimes that result in significant numbers of law abiding customers being unable to access financial services cannot be considered effective Although the Treasury Department s response to the problem has just recently shifted from We cannot tell banks which customers they must serve to This does not imply a zero failure approach these new statements do not recognize the profound impact of de risking on NPOs Governmental action is necessary to address what the Global Center Oxfam report cites as market failure Finding a solution to this problem should be a priority for the Departments of Treasury and State It is necessary to support U S foreign policy goals Many nonprofits carry out work funded by USAID the State Department and the UN Treasury should support the governmental objectives of these agencies by fostering an environment in which the NPOs are able to access financial services and continue their operations All stakeholders stand to benefit from a solution to this problem Likewise all stakeholders stand to lose if the de risking trend continues and NPOs are unable to use transparent regulated channels for international transfers much of it government and or UN funds The undersigned NPOs respectfully request greater cohesion and collaboration in regulatory compliance policy between the U S Departments of State and Treasury This will help provide greater clarity and guidance to both regulators and financial institutions servicing NPO accounts In an effort to move towards a solution to this

    Original URL path: http://www.charityandsecurity.org/Financial_Access_WG_Seeking_Signatures (2016-02-16)
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  • De-Risking and Financial Access Webinar: Recording Now Available | Charity & Security Network
    Financial Access Peacebuilding Countering Violent Extremism Click Here For More Issues Solutions Principles to Guide Solutions Models to Draw On Proposed Solutions News The latest headlines Resources Litigation Analysis Background Legislation Studies Reports Experts Blog About Us Staff Contact Search form Search Stay Up To Date Subscribe Publications The Latest News C SN Joins More Than 50 Orgs in Raising Concerns About UN s Work on Preventing Violent Extremism February

    Original URL path: http://www.charityandsecurity.org/Derisking_Webinar_Jan_7_Feature (2016-02-16)
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  • Bank De-Risking Represents a Market Failure, Report Finds | Charity & Security Network
    concludes a new report from the Global Center on Cooperative Security and Oxfam America Understanding Bank De risking and its Effects on Financial Inclusion According to the report the goals of financial inclusion and anti money laundering and countering the financing of terrorism AML CFT are not inherently in conflict although tensions emerge in practice Overly restrictive AML CFT measures may negatively affect access to financial services and lead to adverse humanitarian and security implications the report states It adds that de risking actually contributes to increased vulnerability by pushing high risk clients into smaller financial institutions that may lack adequate AML CFT capacity or even out of the formal financial sector all together Read more Issues Humanitarian Access Material Support Financial Action Task Force FATF Financial Access Peacebuilding Countering Violent Extremism Click Here For More Issues Solutions Principles to Guide Solutions Models to Draw On Proposed Solutions News The latest headlines Resources Litigation Analysis Background Legislation Studies Reports Experts Blog About Us Staff Contact Search form Search Stay Up To Date Subscribe Publications The Latest News C SN Joins More Than 50 Orgs in Raising Concerns About UN s Work on Preventing Violent Extremism February 8 2016 New Budget

    Original URL path: http://www.charityandsecurity.org/Bank_Derisking_Report_Global_Center_Feature (2016-02-16)
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  • Charity & Security Network
    off and you ll solve the problem Read more about Show Me the Money Pages first previous 1 2 Issues Humanitarian Access Material Support Financial Action Task Force FATF Financial Access Peacebuilding Countering Violent Extremism Click Here For More Issues Solutions Principles to Guide Solutions Models to Draw On Proposed Solutions News The latest headlines Resources Litigation Analysis Background Legislation Studies Reports Experts Blog About Us Staff Contact Search form

    Original URL path: http://www.charityandsecurity.org/issue/Financial%20Access?type=All&page=1 (2016-02-16)
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  • C&SN Blog on De-Risking Published by American Banker Generates Comments from former FDIC Chairman | Charity & Security Network
    fears that some of the money they handle might wind up in the hands of terrorists and other criminals Less developed countries and their banks and citizens face the same problems as the charities U S banks and government agencies disclaim responsibility for the situation and blame each other This situation is creating extreme hardship for countries organizations and people least able to cope with it It s long past time for leading banks and government officials to stop blaming each other and sit down to work out common sense solutions The solutions won t be perfect some funds may well escape the net but there is no doubt we can do much better than we are doing today We have moved from a system that was designed to track the movement of money to a system that is forcing the money out of the legitimate banking system and into the shadows were it is almost impossible to track it Bill Isaac former Chairman FDIC Issues Humanitarian Access Material Support Financial Action Task Force FATF Financial Access Peacebuilding Countering Violent Extremism Click Here For More Issues Solutions Principles to Guide Solutions Models to Draw On Proposed Solutions News The latest

    Original URL path: http://www.charityandsecurity.org/De-Risking_Blog_FDIC_Isaac (2016-02-16)
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  • UN Releases Report on the Impact of Multilateral Organizations on Civil Society, Freedoms, Citing FATF | Charity & Security Network
    and economic interests that primarily occupy States and corporations paragraph 7 It then goes on to point out teh similarities between rationales for civil society restrictions offered by governments and multilaterals These include treating free speech that criticizes authorities as threats to national security restricting access to resources and accusing nonprofits of lacking acccountability and questioning their motives The result is shrinking civil society space at the global level that can also be attributed to Governments increasingly accommodating private sector contradictory interests with civil society The FATF is a primary example In paragraph 11 Kiai notes that there are no special global financial regulations for the private sector as a whole FATF has recommendations that address subsectors such as banking but that FATF Recommendation 8 requires countries evaluated by FATF to take steps related to civil society as a whole including reviewing laws and regulations to prevent abuse by terrorist organizations This is unequal treatment despite the fact that There is no evidence that the civil society sector is more prone than the private sector to money laundering activities or terrorism related financial activity or even that any such activity in the civil society sector justifies the sector wide approach that the Task Force has adopted emphasis added This reflects the last decade s trend of securitization of civil society whereby civil society becomes viewed on the one hand as potentially functional to achieving global and national security goals andon the other hand as potentially threatening to teh secutrity of liberal democratic states Many governments view associations and peaceful assemblies as threts to national stability and security paragraph 20 The FATF is further singled out in paragraph 35 FATF argues in a recommendation paper of 2013 for action against the misuse of non profit organizations for the financing of terrorism

    Original URL path: http://www.charityandsecurity.org/Report/UN_Freedom_Assembly_Multilateral_Orgs_and_Civil_Socierty (2016-02-16)
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  • CSN Essay on FATF in State of Civil Society Report 2015 | Charity & Security Network
    as part of their post 9 11 efforts to cut off the flow of financial resources to terrorist organisations civil society became negatively impacted FATF likewise added anti terrorist financing to its agenda and developed special recommendations to address it Its recommendation on nonprofits unfortunately adopted the rhetoric of the George W Bush administration finding the civil society is particularly vulnerable to terrorist abuse As the FATF promoted increased government monitoring and supervision of CSOs they have become negatively impacted by these policies The essay explains While some governments cite FATF directly as justification for restrictions on CSOs others cite anti terrorist financing or national security more generally Either way the impact on civil society is negative and fails to take the proportional risk based approach that is central to FATF policy Because FATF recommendations also cover financial institutions since 9 11 they have increasingly been expected to act as monitoring and enforcement arms of governments in order to identify track and stop illicit money flows Between the cost of compliance and the threat of significant sanctions for violations banks have begun derisking by dropping low profit customers such as CSOs As a result charities and grant makers that need to conduct international financial transactions for their operations have experienced increasing difficulty getting access to financial services Civil society continues to respond to pressing global challenges of growing inequality corrupt relationships between political and economic elites the privatisation of the public sphere violent conflicts environmental destruction and an enduring lack of opportunity for people to have a say in decisions that affect their lives according to the CIVICUS report At the same time there has never been a greater need for civil society s capacity to offer responses and alternatives to the major problems of these contested and uncertain times

    Original URL path: http://www.charityandsecurity.org/CSN_FATF_Essay_in_Civil_Society_Report (2016-02-16)
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  • Charity & Security Network
    Financial Action Task Force FATF and twenty civil society representatives from around the world that took place on April 24 2013 in London was the first time the inter governmental financial body has formally met with nonprofits NPOs to discuss its standards for governments anti terrorist financing rules for NPOs and the need to protect nonprofits from both abuse by terrorists and the adverse impacts of poor governmental implementation of FATF s NPO standards After the meeting FATF issued a statement saying it will continue working on this issue Civil society groups attending including the Charity Security Network committed to an ongoing positive role of input and dialog Specific input into the update of the Best Practices Paper on Combating the Abuse of Non Profit Organisations and the upcoming typologies study will be the focus of work going forward Read more about FATF Holds First Consultation with Civil Society on Anti Terror Financing Rules and Protecting Nonprofits Charity Security Network Human Security Collective Send Recommendations to Financial Action Task Force Date March 6 2014 In February the Charity Security Network and the Human Security Collective sent recommendations to the Financial Action Task Force FATF calling for adherence to principles of effectiveness and proportionality as they review their Typologies of terrorist abuse of nonprofits The FATF is an intergovernmental body that sets policy recommendations for governments to prevent money laundering and terrorist financing Read more about Charity Security Network Human Security Collective Send Recommendations to Financial Action Task Force FATF Best Practices Paper Revision is a Victory for NPO Sector Date July 2 2015 The Financial Action Task Force s FATF June 2015 update of its Best Practices Paper BPP incorporates almost all of the changes requested by the nonprofit organization NPO sector With a new emphasis on a risk based approach to counter terrorism financing CTF regulation and specific mention of freedom of association assembly and expression NPOs are hailing this as long awaited victory This latest BPP revision which offers guidance on FATF Recommendation 8 on laws relating to NPOs states at its outset that FATF recognizes the vital importance of the NPO community in providing charitable services around the world as well as the difficulty of providing assistance to those in need often in remote regions It also recognizes the efforts of NPOs to promote transparency in their work and to prevent misuse of the sector by those wishing to support terrorist financing and terrorist organisations Read more Read more about FATF Best Practices Paper Revision is a Victory for NPO Sector FATF Best Practices Paper Revision is a Victory for NPO Sector Date July 2 2015 The Financial Action Task Force s FATF June 2015 update of its Best Practices Paper BPP incorporates almost all of the changes requested by the nonprofit organization NPO sector With a new emphasis on a risk based approach to counter terrorism financing CTF regulation and specific mention of freedom of association assembly and expression NPOs are hailing this as long awaited

    Original URL path: http://www.charityandsecurity.org/issue/Financial%20Action%20Task%20Force%20%28FATF%29?type=All&page=1 (2016-02-16)
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