As a part of the Structural Reform Support Programme (SRSP) initiative for Bulgaria “Enhancing capabilities of Bulgarian authorities to effectively mitigate money laundering and terrorist financing risks”, the Council of Europe Economic Crime and Cooperation Division (ECCD), in cooperation with the European Commission Directorate General for Structural Reform Support (DG REFORM) is currently advising Bulgarian authorities on different approaches to regulatory modalities for the Non-Profit Organisations (NPOs)’ sector and their implementation.
As a first step within this process, the ECCD has undertaken the development of the Technical Paper focused on comprehensive analysis of different methods of effective NPO regulation in the context of FATF Recommendation 8 and the risk-based approach to NPO regulation. The document analyses international good practices that can be considered and potentially adopted to enhance the effectiveness of the NPO regulation. Furthermore, the document provides a set of recommendations regarding powers and roles of the competent authorities, taking into consideration country-specific context, materiality and existing practices.
The Technical Paper was presented to Bulgarian authorities during a workshop which took place in person on 12 July 2022 in Plovdiv, Bulgaria. The event was attended by representatives of the State Agency for National Security, Bulgarian National Bank, Financial Supervision Commission, National Revenue Agency, Ministry of the Interior and Commission for Anti-Corruption and Illegal Assets Forfeiture, as well as by representatives of Bulgarian Center for Not-for-Profit Law and NPOs. The Workshop provided an opportunity to discuss how to build on the existing good practices and provided expert recommendations on developing an effective NPO regulatory and supervisory framework adapted to the national context.
The event was organised within the framework of the Structural Reform Support Programme (SRSP) project for Bulgaria “Enhancing capabilities of Bulgarian authorities to effectively mitigate money laundering and terrorist financing risks”, funded by the European Commission’s Directorate General for Structural Reform Support (DG REFORM) and the Council of Europe and implemented by the Council of Europe.