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For the attention of all Sark Registered Charities and Non Profit Organisations (NPOs)
November 2013 onwards

Risk awareness – Money laundering and the financing of terrorism

There is significant international focus on the potential for Charities and NPOs to be vulnerable to abuse by those who seek to exploit this sector for the purposes of money laundering and the financing of terrorism.

The issue continues to attract the attention of the international community, as recently demonstrated with the publication of revised standards in this area by the Financial Action Task Force (FATF).   In view of this, the Guernsey Registrar has added to the website a number of further documents which highlight the risks of terrorist abuse and the measures that are available to protect against such abuses.

Please use this link to visit the Guernsey Registry, for information on Charities and NPOs and this link to view current legislation applicable to Sark.

The Sark Registrar asks you to ensure that you continue to keep up to date with the potential risks your organisation may face and the policies/procedures you can adopt to limit those risks. It is acknowledged that owing to the wide ranging activities undertaken by organisations based in the islands, different organisations will have differing levels of exposure to such risks, so the steps to mitigate such exposure will also vary accordingly.

In addition, and particularly if your organisation receives donations from, or makes payments to, persons outside of the islands, the Sark Registrar also recommends that you make yourself familiar with the current international lists of terrorists, as issued by the European Commission and United Nations, together with details of European Union Regulations, United Nations Orders in Council and other legislation relating to the freezing of terrorist assets. These can be found using the following link: www.gov.gg/sanctions and use this link to view current legislation applicable to Sark.

T. J. Hamon
Registrar

 
 
Register of Sark Charities 2017
 
Register of Sark Non Profit Organisations 2017