Specialists from the Tax Administration and the Directorate for Prevention of Money Laundering (DPMP) guided representatives of non-profit organizations on how to protect themselves from the existing risk in this sector, of being involved in terrorist acts, which are punishable under our criminal legislation.
The main issues that were explained and discussed were:
- Legal framework for the prevention of money laundering and terrorist financing (AML/FT);
- FATF Recommendation No. 8 and the deficiencies identified by Moneyval of the Council of Europe concerning this sector;
- Risk in the NGO sector;
- Methods/types of using NGOs for terrorist financing purposes by terrorist organizations;
- Measures to prevent abuse for money laundering and terrorist financing purposes;
- Presentation of Guideline no. 19 dated 9.7.2019 “On the supervision of non-profit organizations for the purpose of preventing money laundering and terrorist financing”
This instruction regulates the procedures followed by tax authorities, as supervisory bodies, for the control of NPO activities, with the aim of avoiding the possibility of their use for money laundering or terrorist financing.
Over 40 NGO representatives present at the training became acquainted with new legal and procedural regulations, as well as control mechanisms for their fullest protection.
Representatives of DPT and DPPPP ensured that NGOs will have all the necessary assistance from these institutions to follow proper legal and tax procedures and practices.
Source: General Directorate of Taxes.