The Wolfsberg Group has published its response to the FATF Public Consultation on the draft FATF R.8/INR Amendments and Best Practice Paper to Combat the Abuse of the Non-Profit Organisation (“NPOs”) Sector.
The response covers the Group’s views on:
- NPOs’ risk awareness and mitigation; and
- Access of legitimate NPOs to financial services.
Firms can view the Wolfsberg response to the consultation in advance of potential forthcoming changes to the FATF Recommendations and Guidance.