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National NPO sector assessment highlights risk-based approach  

The first national risk assessment of money laundering and terrorist financing for non-profit organisations (NPOs) has been completed. In addition to the assessment of risks, it is aimed at increasing awareness of the Finnish NPO sector among obliged entities specified in the Act on Preventing Money Laundering and Terrorist Financing, supervisory authorities as well as operators in the sector itself. The risk assessment also makes it easier for an individual NPO to identify the risk of money laundering (ML) and terrorist financing (TF). The risk assessment highlights, in particular, the importance of obliged entities taking a risk-based approach towards NPO customers.  Risk assessment identifies significant terrorist financing risks The main threat to the NPO sector is posed by illegal international money transfers and other criminal activities in the cross-border activities of NPOs, and by the infiltration of criminals into legal activities.  The key vulnerabilities of the NPO sector

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