We are happy to present you the latest BCSDN Digest, shedding light on the complex interplay between Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) regulations and CSO operations in the Western Balkans and Türkiye.

The Digest is a brief, and concise summary of BCSDN policy paper on AML/CFT Regulations and Implications on CSOs in the Western Balkans and Türkiye.

In the Digest you will discover:

Key Insights:

  • Exploring AML/CFT regulations’ impact on CSOs in WBT.
  • Examining FATF recommendations 8 and 24 to safeguard NPOs’ integrity and transparency.
  • Analyzing governments’ adherence to FATF standards and its consequences.
  • Revealing unintended consequences of uniform FATF standards application.
  • Comparing national Risk Assessments in the WBT.

Key Concerns, Keeping Eyes on and Promising Wins:

  • Civil society challenges across the region due to varying degrees of restrictive AML/CFT legislation, complex reporting procedures, ambiguous legal frameworks, and instances of abuse, duplication, and lack of clarity
  • Success stories from Albania, Serbia, and North Macedonia in pushing back against misuse of regulations.
  • Progress on risk assessment processes, legislation and policy developments in the countries
  • Türkiye’s journey towards FATF compliance and implications for CSOs.

 The Way Forward: Our Recommendations:

  • Calls to regulatory authorities, financial institutions, CSOs, and international bodies for a collaborative and risk-based approach.
  • Advocating for clear guidance, capacity-building initiatives, and tailored policies to safeguard CSOs’ autonomy and integrity.

The Digest is available HERE.

Further reading:

How did you find the read? Any thoughts or feedback are appreciated at: executiveoffice@balkancsd.net.