Money laundering and terrorism financing risks to Australian non-profit organisations

Hdl Handle:
http://hdl.handle.net/10149/214649
Title:
Money laundering and terrorism financing risks to Australian non-profit organisations
Authors:
Bricknell, S. (Samantha); McCusker, R. (Rob); Chadwick, H. (Hannah); Rees, D. (David)
Citation:
Bricknell, S., McCusker, R., Chadwick, H. and Rees, D. (2011) Money laundering and terrorism financing risks to Australian non-profit organisations, Research and Public Policy Series, No 114, Australian Institute of Criminology.
Publisher:
Australian Institute of Criminology
Issue Date:
Feb-2012
URI:
http://hdl.handle.net/10149/214649
Additional Links:
http://www.aic.gov.au/publications/current%20series/rpp/100-120/rpp114.aspx
Abstract:
The exploitation of the non-profit sector for money laundering and, in particular, the financing of terrorism, is understood to have been a long-established practice. However, the methods and sources used by terrorist organisations to finance their activities became a key policy focal point after the terrorist attacks of 11 September 2001 and subsequent (predominantly government) examinations of terrorism funding substantiated the position that non-profit organisations were at an elevated risk of criminal exploitation. The vulnerability of non-profit organisations was related to their social purpose, the cash-intensive nature of their activities and the generally minimal form of regulatory oversight applied to their operations. Adding to this risk was the provision of services that relied on financial contributions and the good will of its supporters, the often regular transmission of funds between jurisdictions and less rigorous forms of administrative and financial management. This report examines the risks to the Australian non-profit sector of money laundering and terrorism financing and describes the regulatory changes that could minimise risk. The report uses information derived from government, non-government and peer-reviewed literature, case law and regulator reports, and observations made by representatives from the non-profit sector, law enforcement and key regulatory agencies, and academia that were consulted for the study.
Type:
Research Report
Language:
en
Keywords:
money laundering; terrorism; finance; non-profit organisations; non-profit sector; law enforcement
Series/Report no.:
Research and public policy series; 114
ISSN:
1836-2079
ISBN:
9781921532863
Citation Count:
No citation information available on Web of Science or Scopus

Full metadata record

DC FieldValue Language
dc.contributor.authorBricknell, S. (Samantha)en_GB
dc.contributor.authorMcCusker, R. (Rob)en_GB
dc.contributor.authorChadwick, H. (Hannah)en_GB
dc.contributor.authorRees, D. (David)en_GB
dc.date.accessioned2012-03-07T14:43:52Z-
dc.date.available2012-03-07T14:43:52Z-
dc.date.issued2012-02-
dc.identifier.isbn9781921532863-
dc.identifier.issn1836-2079-
dc.identifier.urihttp://hdl.handle.net/10149/214649-
dc.description.abstractThe exploitation of the non-profit sector for money laundering and, in particular, the financing of terrorism, is understood to have been a long-established practice. However, the methods and sources used by terrorist organisations to finance their activities became a key policy focal point after the terrorist attacks of 11 September 2001 and subsequent (predominantly government) examinations of terrorism funding substantiated the position that non-profit organisations were at an elevated risk of criminal exploitation. The vulnerability of non-profit organisations was related to their social purpose, the cash-intensive nature of their activities and the generally minimal form of regulatory oversight applied to their operations. Adding to this risk was the provision of services that relied on financial contributions and the good will of its supporters, the often regular transmission of funds between jurisdictions and less rigorous forms of administrative and financial management. This report examines the risks to the Australian non-profit sector of money laundering and terrorism financing and describes the regulatory changes that could minimise risk. The report uses information derived from government, non-government and peer-reviewed literature, case law and regulator reports, and observations made by representatives from the non-profit sector, law enforcement and key regulatory agencies, and academia that were consulted for the study.en_GB
dc.language.isoenen
dc.publisherAustralian Institute of Criminologyen_GB
dc.relation.ispartofseriesResearch and public policy seriesen_GB
dc.relation.ispartofseries114en_GB
dc.relation.urlhttp://www.aic.gov.au/publications/current%20series/rpp/100-120/rpp114.aspxen_GB
dc.subjectmoney launderingen_GB
dc.subjectterrorismen_GB
dc.subjectfinanceen_GB
dc.subjectnon-profit organisationsen_GB
dc.subjectnon-profit sectoren_GB
dc.subjectlaw enforcementen_GB
dc.titleMoney laundering and terrorism financing risks to Australian non-profit organisationsen
dc.typeResearch Reporten
ref.citationcountNo citation information available on Web of Science or Scopusen_GB
or.citation.harvardBricknell, S., McCusker, R., Chadwick, H. and Rees, D. (2011) Money laundering and terrorism financing risks to Australian non-profit organisations, Research and Public Policy Series, No 114, Australian Institute of Criminology.en
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