IHSA

Financial access for non-profits: innovative solutions to risk and security
Organiser(s): Sangeeta Goswami, Human Security Collective

Excerpt:
Evidence of restrictions on financial transfers by nonprofits (often termed ‘bank de-risking’) to areas that are considered at-risk for terrorism financing is well-documented. Additionally, there is empirical evidence of the de-risking of nonprofits occurring more generally as a consequence of the (mis)interpretation of money laundering (ML) and terrorism financing (TF) regulatory standards by governments and banks, resulting in difficulties opening bank accounts and transferring money, the facing of burdensome due-diligence requirements, and having bank accounts closed with little or no explanation. Following up from our 2018 panel which outlined the drivers and impact of bank de-risking on nonprofits, this panel will follow up by discussing some of the technological and innovative mitiga ..
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