Skip to main content

Fundraising campaigns and combating money laundering and terrorist financing


Fundraising campaigns are an important means for non-governmental organisations, other associations and foundations to raise funds for their activities. Funds raised by fundraising campaigns must be used to promote a non-profit cause. Despite this principle, fundraising campaigns can also promote negative phenomena such as money laundering and terrorist financing. This is because fundraising activities and the work of associations in general can be used to launder money or to finance terrorists. It is important to note that in terms of terrorist financing, even small sums of money from different sources can make a big difference. 

The authorities have various supervisory means available to them for combating money laundering and terrorist financing. With regard to fundraising campaigns, the goal is to ensure that legitimate fundraisers are able to pursue their goals and raise funds for their chosen cause while preventing criminals from taking advantage of these associations and foundations. The Gambling Administration department of the National Police Board also supervises fundraising campaigns with this goal in mind, and means used to supervise fundraising campaigns are designed to allow the authorities to intervene in any illegal activities.

The increasing threat of terrorism has also made it necessary to monitor different kinds of transactions more diligently. The Financial Action Task Force (FATF), which is an inter-governmental body operating in connection with the OECD with the aim of combating money laundering, carried out an assessment in Finland in 2007. This resulted in a mutual evaluation report. Among the FATF’s findings was the observation that non-profit organisations had not been given sufficient information on combating terrorist financing. The enclosed document is designed as a guide for non-profit organisations and associations, enabling them to take this phenomenon into consideration in their activities. The guide includes both recommendations and instructions. The guide also includes contact details for various authorities that can be contacted with regard to questions of all kinds relating to the issue. 

Source: https://www.poliisi.fi/

Comments

Popular posts from this blog

India-Malaysia ties and the future

Prime Minister Anwar Ibrahim is on his first official visit to India. The main aim of this visit is to seek support for Malaysia’s application to join Brics and to fortify bilateral ties, as the country is keen to improve its connections with one of the rapidly expanding economies in Asia. In light of the increasing crumbling of the global order, particularly stemming from trade disputes between the United States and China, as well as the proxy conflict involving the United States and Russia, Malaysia is encouraged to reassess its foreign policy to uphold its neutral stance. Given India’s status as the largest democracy and the fifth-largest economy globally, along with its notable advancements in indigenous space and defence technologies, it is proposed that India emerge as Malaysia’s key partner in the years ahead. Why India is important for Malaysia The historical ties between India and Malaysia extend back several centuries, with significant Indian cultural, religious, and administ...

THE HISTORY OF TERRORISM: MORE THAN 200 YEARS OF DEVELOPMENT

The history of terrorism dates back at least 1500 years when Jewish resistance groups (66 - 72 A.D.) known as Zealots killed Roman soldiers and destroyed Roman property. The term assassin comes from a Shi'ite Muslim sect (Nizari Isma'ilis - also known as hashashins "hashish-eaters") fighting Sunni Muslims (1090 - 1275) and during Medieval Christendom resisting occupation during the Crusades (1095-1291). The hashashins were known to spread terror in the form of murder, including women and children. The brotherhood of Assassins committed terror so as to gain paradise and seventy-two virgins if killed and to receive unlimited hashish while on earth. The modern development of terrorism began during the French Revolution's Reign of Terror (1793 - 1794). During this period the term terrorism was first coined. Through the past two hundred years, terrorism has been used to achieve political ends and has developed as a tool for liberation, oppression, and i...

The by-election in Kuala Kubu Baharu (KKB) and the Indian electorate

  I was born in Malaysia, belonging to the Indian ethnic group, which constitutes approximately 7% of the country's total population. My durable credence is that I am Malaysian first and foremost, and only then do I identify myself as Indian. Regrettably, it saddens me to witness and hear about the actions of certain politicians who question my loyalty to Malaysia. What is even more disheartening is that some Malaysians have been influenced by the manipulative rhetoric of these self-serving politicians. Recently, I have observed numerous discussions on both mainstream and online news platforms regarding the recognition and inclusion of Indians by ruling parties. Surprisingly, even the opposition has displayed a significant interest in the welfare of Indians. Upon contemplating the reasons behind this sudden surge in attention towards Indians, it becomes evident that it is primarily driven by the upcoming Kuala Kubu Baharu (KKB) by-election. It is noteworthy that such ...