The Council of Europe provided support to the Czech authorities in developing guidance for Non-Profit Organisations (NPOs) on identifying and assessing money laundering and terrorist financing (ML/TF) risks through an online Workshop organised on the 17 February 2021.
Based on the results of the ML/TF risk assessment of the NPO sector previously conducted by the Czech authorities, the Economic Crime and Cooperation Division of the Council of Europe developed tailor-made Guidelines for NPOs to build on this process. Drawing from relevant AML/CFT international standards and known ML/TF risks associated with NPOs, the document offers concrete guidance for any NPOs operating in the Czech Republic which decide to undertake their own risk assessment and manage and mitigate any ML/TF risks they may be exposed to. As such, the document presents relevant risk indicators in an accessible and structured manner and proposes proportionate risk management and mitigation measures which should not interfere with the valuable work carried out by NPOs.
The workshop brought together representatives from the Ministry of Interior of the Czech Republic and the Financial Analytical Office (Czech FIU), as well as representatives of the Council of Europe and the European Commission. Moreover, representatives from Cypriot and Latvian authorities participated in the workshop to present their respective countries’ experiences regarding the ML/TF risks in the NPO sector and the availability of relevant information on NPOs.
As a follow-up to this activity, the Council of Europe will further support the Czech authorities in raising awareness and developing a risk-based approach to supervision which effectively identifies and manages ML/TF risks faced by the NPO sector.
The activity was organised within the framework of the Structural Reform Support Programme initiative on “Enhancing effectiveness of the AML/CFT regime in the Czech Republic”, funded by the European Commission Directorate General for Structural Reform Support (DG REFORM) and the Council of Europe, and implemented by the Council of Europe.