Research and Information about AML for the Civil Society Organization sector.
A generation ago not a single country had laws to counter money laundering; now, more countries have standardized anti-money laundering (AML) policies than have armed forces.
Our library aims to be, a one-stop anti-money-laundering/countering the financing of terrorism research resource. This multi-faceted section serves the global anti-money-laundering community by providing information about national money-laundering and financing of terrorism laws and regulations and contacts for inter-country assistance. We help identify areas for improvement in domestic laws, countermeasures and international co-operation.
Research and Data
Recommendation #8 from the Financial Action Task Force has changed the way Civil Society Organizations operate. Several factors that include international financing of NGOs in developing countries, country ownership, de-risking, and other factors have forced Civil Society Organizations, NGOs, and Foundations to implement processes for increase transparency.
This section provides up-to-date key research and links to knowledge on this important topic.
Accountability & Transparency
At the time of our on-site mission in Latin America, The BCLab reports that authorities have conducted little outreach or awareness- raising to protect the sector from ML and TF abuses. Limited work has been done to promote transparency, accountability, integrity, and public confidence in the administration and management of all NGOs. There are no clear mechanism in place for all authorities to share information promptly in order to take preventive or investigative action when there is suspicion of or reasonable grounds to suspect that a NGO is being exploited for terrorist financing purposes or is a front organization for terrorist fundraising.
Whats is the sector doing?
Solutions The BCLab
Over the past five years, The BCLab’s team and associates have explored the world of Anti Money Laundering (AML), Know Your Customer (KYC), and Terrorism Financing. The Civil Society movement has invested most of their efforts in fighting Recommendation #8 instead of also investing resources in finding key solutions that would increase transparency in the sector.
The BCLab works with the civil society movement, the banking sector, legislators, and funders to implement sustainable solutions.