The Laundry Man by Kenneth Rijock ( Penguin/Random House UK)

Saturday, August 11, 2012


Remember, whenever there are hurricanes, typhoons, tornadoes and floods, the flow of charitable contributions must be carefully vetted to ensure that some imaginative and enterprising money launderers are not engaging in funding terrorist organisations, in the midst of the fog and confusion of a catastrophic event. The Philippines and India have experienced record flooding this past week.

Money launderers and financiers of designated terrorist groups look for such opportunities; both India and the Philippines are home to terrorist groups. Remember these rules:

(1) Only bank known and established charitable organisations, or NGOs with a track record.

(2) New charities or nonprofits must be thoroughly vetted, including leadership, objectives of the organisation, their physical premises and staff, and record of good acts; Consider Enhanced Due Diligence.

(3) If an established charity under what appears to be totally new leadership, check out the new officers and managers.

(4) After opening an account, monitor it for activities inconsistent with the charity's stated objectives, expected account volume, frequency of international wire transfers, and requests for cash withdrawals.

Always ensure that you are not unwittingly facilitating terrorist funding and financing.

1 comment:

  1. I totally agree with u. Those organizations should be closely monitored.


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