The latest BCSDN Digest provides a concise overview of the complex interplay between Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) regulations and their impact on CSOs in the Western Balkans and Türkiye. Based on the BCSDN policy paper on AML/CFT Regulations and Implications on CSOs in the Western Balkans and Türkiye, the Digest explores key insights such as the influence of AML/CFT regulations on CSOs, the examination of FATF recommendations 8 and 24 for safeguarding NPOs’ transparency, and integrity, and an analysis of government adherence to FATF standards. Highlighting concerns, it discusses challenges faced by CSOs due to varying AML/CFT legislation, reporting procedures, and ambiguous legal frameworks. The Digest also shares success stories, progress, and recommendations for a collaborative, risk-based approach to address these issues. Access the full Digest for in-depth information here.
Source: BCSDN