18 April 2024: South African government and private sector partners published a report on the terrorist financing risk assessment on the non-profit organisation (NPO) sector that will result in focused, proportionate, and risk-based measures to mitigate the identified risks.
The report is being launched today, 18 April and tomorrow, 19 April.
The sector risk assessment is in line with the Financial Action Task Force (FATF) global standards to combat money laundering and terrorist financing, as well as South Africa’s follow-up action plan to address grey listing by the FATF in 2023. The FATF is an intergovernmental body which sets global standards and measures for combating money laundering and terrorist financing. As a member of the FATF, South Africa is obliged to meet these standards.
The global standards of the FATF require that countries periodically identify and assess the terrorist financing risks to which organisations that raise or disburse funds for good works, are exposed.
