Charities/Non profit
Charities/Non-profit organizations (NPOs), play a vital role in global economies and social systems by providing essential support and hope to those in need. However, their vulnerability to misuse for money laundering and terrorist financing presents serious challenges, making them high-risk clients for financial institutions.
Latest News
New data suggests nearly half of charities experience issues when banking including having accounts frozen without warning and difficulty opening new accounts- UK Charity Commission Report 2024
Top Challenges Facing Charities Today
1
Banking issues
Financial institutions (FIs) often view non-profit organizations (NPOs) as high-risk clients. Due to their nature of work, NPOs are exposed to both residual and hidden risks.
This high-risk label can make it challenging for NPOs to open accounts, adding extra strain to their operations. NPOs also frequently face sudden account suspensions or closures and heightened scrutiny of their financial transactions. These challenges jeopardize their project delivery and threaten the organization's long-term sustainability
2
Revocation Of Charity Status
Regulatory bodies have the authority to revoke registrations, significantly impacting the operational capabilities of organizations. This often leads to reputational damage, compromised trust among donors and partners, and financial risks such as fines and penalties for the organizations.
3
Decrease in Donors' Trust/Support
A recent study has brought attention to a concerning trend: Charities and nonprofits are experiencing a decline in public trust. For an organization that relies heavily on donations, this is a cause for concern. Reduced trust affects donor support and jeopardizes the organization's sustainability, creating significant barriers to fulfilling its mission and operations.
Our Services
We're here to support your organization's success with a variety of tailored solutions. Whether you need regulatory compliance assistance or help building trust with financial institutions, we’ve got you covered. Explore our services below to discover how we can help you thrive.
Regulatory Assistance
We help NPOs maintain good standing with regulators by ensuring compliance with applicable laws and regulations.
Expert Guidance
Our team of professionals provides expert guidance and support to help NPOs navigate complex regulatory environments both Locally and Globally and achieve their organisations goals and mission.
Building Trust
We assist NPOs in developing processes to enhance transparency and accountability. Our support helps organizations rebuild trust with financial institutions, banks, partners, regulators, and donors, fostering stability and cultivating long-term relationships.
Independent AML and CTF Testing
We specialize in conducting independent assessments of NPOs' compliance programs, customizing our approach to their specific risk profiles. Our goal is to conduct a comprehensive review of the effectiveness of their AML programs, pinpointing any potential gaps and providing actionable solutions for enhancement.
Consultation and
Training
Our specialized Implementation Consultation and Training services are designed exclusively for non-profit organizations (NPOs). We offer customized guidance and training to assist NPOs in developing strategic plans, strengthening governance structures, ensuring regulatory compliance, managing finances effectively, and evaluating program impact.
Other Advisory
Services
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Regulatory Compliance Consulting
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Comprehensive Evaluation of Social Media Posts
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Assessment and Review of Policies and Procedures
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Due Diligence Assistance (KYC and Sanction-related Reviews for NPOs, Partners, Donors, and Projects)
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Support NPOs in conducting comprehensive investigations to identify suspicious transactions, financial crimes, and regulatory violations