AUSTRAC warns that charities and non-profits remain vulnerable to terrorism financing abuse and provides updated indicators to help detect suspicious cross-border donation flows

AUSTRAC’s updated risk guidance finds that money laundering and terrorism financing risk in Australia’s non-profit sector remains stable, with criminals continuing to exploit some charities and NPOs to move illicit funds domestically and overseas. It adds suspicious activity indicators to help regulated businesses identify possible NPO-related abuse and strengthen risk-based systems, controls and reporting…