FATF counter-terrorism policy
Member FATF Private Sector Consultative Forum
We use our seat on the FATF Private Sector Consultative Forum to voice the interests and concerns of the philanthropy sector when it comes to international counter-terrorism and money laundering.
FATF (Financial Action Task Force) is an inter-governmental body that seeks to combat money laundering, terrorist financing and other threats to the international financial system. It is both a policy-making and enforcement body. The Private Sector Consultative Forum is a platform for the private sector to voice its concerns and opinions on FATF policy, and in 2017 four new seats were created for the NPO sector. The EFC has filled one of those slots since 2017 on behalf of WINGS (Worldwide Initiatives for Grantmaker Support). The EFC sits on the Enabling Environment Affinity Group of WINGS.
The EFC is also a core member of the Global NPO Coalition on FATF, which has been advocating for a more formalised dialogue between FATF with the NPO sector and for some policy changes in FATF recommendations. In 2016, a key win for the EFC and the Global Coalition was ensuring that the designation for NPOs as “particularly vulnerable” was removed from FATF recommendations on NPOs. If this had remained, philanthropic organisations and their grantees would have likely continued to be subjected to onerous regulations on their financial activities.
This work is now done within the context of the joint DAFNE-EFC Philanthropy Advocacy initiative.