Monday, November 11, 2013


Typhoon Halyan moving into the Philippines
With a reported tens of thousands dead in the Republic of the Philippines, due to the 195mph impact of Typhoon Halyan, relief programs will be ramping up on a global basis forthwith. What you as a compliance officer must always be mindful of, though, is that terrorist financiers are constantly looking for targets of opportunity, through which they can successfully move funds to their clients.

While you are encouraged to expedite all relief funds payments directed at the victims of the typhoon, remember well that there are terrorist organizations in the Southern Philippines. Funds ostensibly earmarked for typhoon relief could be diverted, and end up in their hands, in the chaos surrounding such a major natural disaster.

Red Flags:

(1) Are the charities and NGOs who are sending funds known to you ?

(2) Is your NGO bank client a newly-formed entity ?

(3) Is it a previously-inactive organization that is now well-funded, and seeking your assistance ?

(4) Is it not known to you, but has a name deceptively similar to that of a major charity or NGO ?

(5) Is the funding coming to you from a jurisdiction or source that you would not normally expect disaster relief funds from originating ?

Never let your guard down, just because it is urgent that you transmit funds to the needy. Always step back briefly, and look objectively at the issues, before initiating disaster relief funds;, lest you unwittingly fund a terrorist organization's arms and supplies.

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