Non-profits to be risk assessed
As part of the Island’s fight against financial crime, we are working with the Government of Jersey to build a better understanding of local non-profit organisations and the potential risk of them being used to finance terrorism.
To do this, we are collecting current information from local non-profit organisations about their purpose and activities so we can assess the level of risk they face and pose. Our analysis of the data we collect will determine our approach to how we supervise non-profit organisations, particularly those considered more vulnerable.
This exercise should not cause any concern; we appreciate that the majority of local non-profits’ activities and funds are Jersey-based. It is our current understanding that they present either no risk or a very low risk of terrorist financing.
Deadline for providing information - 5 October
Next week we will send an online questionnaire to all non-profit organisations on our register and a data request to the trust company sector for information about the non-profits they administer. The deadline for providing us with this information is 5 October 2021.
If you are unable to provide us with the information we are requesting, we will not be able to risk assess your organisation. This will mean you may automatically be considered higher risk and are likely to be monitored more closely.
If you or someone you know is involved with running a local non-profit organisation, make sure you/they meet with this requirement.
Support and drop-in sessions
We have a dedicated area of our website for non-profit organisations with helpful resources including guidance for completing the questionnaire, the webinar we hosted in August on Non-profit organisations and Terrorist Financing and the Government’s National Risk Assessment.
We are also hosting a virtual drop-in session and in-person appointments to provide further information and support you with this exercise.
In-person appointments: 23 September at 11:00-17:30