The sector risk assessment aligns with the Financial Action Task Force, an intergovernmental body that sets global standards and measures for combating money laundering and terrorist financing. It will result in focused, proportionate, and risk-based measures to mitigate the identified risks to the NPO sector. Launched on 18 and 19 April, the report is a collaborative effort between government partners — including the Financial Intelligence Centre, the South African Revenue Services, and the Department of Social Development — public and private sector organisations, NPOs and umbrella organisations. The NPO sector performs a vital role in the South African society, providing relief and support to groups of the population in need, often in challenging circumstances and regions. NPOs’ efforts complement those of government and business in providing essential, sometimes lifesaving, support, comfort, and hope to those in need.
SOURCE: DAILY MAVERICK