The documents, which were released for public consultation as a result of global lobbying by civil society organizations and institutions working on the issue, are open for comment until August 18.
Detailed information on Recommendation No. 8 can be found here.
Click here for detailed information on the Best Practices paper.
What is the FATF?
The Financial Action Task Force (FATF) is charged with establishing international standards in the fight against “the laundering of criminal assets, the financing of terrorism, and the financing of the proliferation of weapons of mass destruction,” as well as adopting legal and institutional measures consistent with those standards and implementing those measures in an operationally effective manner. It is an intergovernmental organization established in 1989 at the meeting of the G-7 countries (USA, Japan, Germany, France, England, Italy and Canada) in Paris to promote its implementation. Türkiye became a member of the FATF in 1991.
The FATF has published recommendations with 40 points. Article 8 of the recommendations directly refers to civil society organizations entitled “non-profit organizations”. Based on this recommendation, additional articles were included in the Regulation on Associations entitled “Risk Analysis and Audit” in the Official Gazette of 21.102021. In this article;
“Additional Article 1- It is essential that audits are conducted based on risk analysis. The risk analysis shall be carried out by the General Directorate within the framework of combating the laundering of assets from crimes against associations and the financing of terrorism.
The risk groups of associations are classified as high, medium and low. The criteria established for risk analysis are reviewed and evaluated every year based on the new information obtained. Audit programs are established for associations in high and medium risk groups, and these associations are inspected by officials of the Minister of Interior or the local authority. The procedures and principles for conducting risk analysis and auditing associations are established by the General Directorate.