In 2017, AUSTRAC and the Australian Charities and Not-for-profits Commission (ACNC) released a joint report which assesses money laundering and terrorism financing risks affecting Australian non-profit organisations (NPOs).
This report identifies the main criminal, money laundering and terrorism financing threats currently facing NPOs. It highlights key vulnerabilities that are exploited for criminal misuse, or to support or promote terrorism and its financing. It also addresses an international requirement to identify the subset of NPOs at high-risk of terrorism financing misuse.
This risk assessment is intended to provide a summary and general overview; it does not assess every risk relevant to the NPO sector. It does not set out the comprehensive obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act), AML/CTF regulations and AML/CTF Rules, or the obligations for NPOs under Commonwealth and state and territory legislation. It does not constitute nor should it be treated as legal advice or opinions. The Commonwealth accepts no liability for any loss suffered as a result of reliance on this publication. AUSTRAC and ACNC recommend that regulated NPOs seek independent professional advice.