August 28 2017
Australian charities and not-for-profit organisations are prime targets for money launderers and supporters of international terrorism, the nation’s financial intelligence agency has warned.
A risk assessment by the Australian Transaction Reports and Analysis Centre (AUSTRAC) revealed the charitable sector is at a “medium” risk as organised criminals and terrorists increasingly sharpen their strategies.
The study evaluated 257,000 registered non-profit organisations in Australia, which attract $134 billion in contributions each year in partnership with charities regulator the ACNC.