August 1 2017
It’s a sad fact of life that charities can be vulnerable to fraud and nefarious activities, including becoming entangled in money laundering and financing terrorism. The potential susceptibility of Australia’s 54,000 charities to be used for terrorist financing was highlighted in the Terrorism Financing in Australia 2014 report by Australia’s financial intelligence unit, the Australian Transaction Reports and Analysis Centre (AUSTRAC). It identified Australian charities as potential channels for raising and distributing funds to finance terrorism.