NPOs and terrorism financing
April 19, 2022
A Two-day workshop was organised last week, targeting non-profit organisations, to raise awareness about the risks they may face in regards to terrorism financing.
The workshop was organised by the Financial Intelligence Unit (FIU), in collaboration with the Office of the Registrar of Associations, and the European Commission’s Technical Assistance and Information Exchange Instrument (TAIEX).
It was funded by the Partnership Instrument (PI), and was conducted by two experts from the European Union.
The workshop was organised as part of a larger mission by the experts to conduct a Sectoral Terrorism Financing (TF) Risk Assessment of Non-Profit Organizations.
SS Patrick Payet, delivered the opening remarks, in which he recognised the 'essential role that Non-profit organisations play in supporting the social and economic well-being of the country.'
"This exercise will include obtaining information on the activities, size and other relevant features of NPOs in Seychelles and their likelihood to be used by criminals. It will also assess the adequacy of measures in place and identify strategies that need to be developed to address the identified risks."
SS Payet is also the chairman of the National Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Committee - (NAC).
The Sectoral Terrorism Financing (TF) Risk Assessment of Non-Profit Organizations exercise, will support Seychelles' bid to improve its 're-rating' on Recommendation 8, of the Financial Action Task Force (FAFT), which currently stands as 'non-compliant.'