The final Charity Fraud Awareness Week theme is moving money safely – ensuring that both charities and donors understand the risks of transferring funds internationally, and encouraging due diligence when donating or operating overseas.
In August 2017, the ACNC and the Australian Transaction Reports and Analysis Centre (AUSTRAC) worked together to publish Australia’s non-profit organisation sector risk assessment: Money laundering and terrorism financing risk assessment, which focuses on the risks of money laundering and terrorism financing in Australian charities.
The assessment found that Australian charities and not-for-profits had an overall a risk rating of medium, and identified key risks for charities which operate internationally. For more information or to download the risk assessment, visit acnc.gov.au/nfprisk or listen to our podcast on the topic.
In addition to the risk assessment, the ACNC has produced comprehensive guidance to help charities understand and manage the risks involved in operating overseas. Charities operating overseas provides a checklist for charities to ensure they are meeting their obligations, as well as discussing the risks of international programs in relation to each of the ACNC’s Governance Standards. The guide is available to download on the ACNC website.
Charities operating overseas may also benefit from the information provided by the Australian Council for International Development (ACFID), the peak body for non-government aid organisations in Australia. Members of ACFID, including a range of registered charities, are required to meet the ACFID Code of Conduct – which enhances transparency and accountability in the aid sector.
ACFID have produced a Good Practice Toolkit which includes information on good governance and compliance for aid organisations operating internationally. They have also recently hosted a webinar on the subject of preventing financial wrongdoing in international aid organisations – available to view on YouTube.
More information about Charity Fraud Awareness Week, including links to international resources on charity fraud and financial management, is available on the Fraud Advisory Panel website.