(411 aus) I disagree with this statement "  I feel these non profit organizations are helping the terrorist organizations most of the time, not that they are being "abused" by the terrorist organizations who are using them to launder their money" Not all non profits are being use to funnel money to terrorist. The one that money is being used for terrorism I don't believe that all are doing it on purpose. 200 supporting my point with examples please list references

 

 

In response to this statement

 

There were many things that I found very interesting about the readings this week. One thing that caught my eye from the very first reading from the Financial Action Task Force 2010 reading was that there are over 180 different countries who are engaged in trying to minimize the threats of money laundering and funding of terrorism (FATF, 2010). I do not understand if so many countries are working together to try to stop this problem, how is it so rampant throughout the world? These countries have set up a world wide task force and are not able to stop this problem. I wonder how this task force is funded, and if it is really worth the funding if money laundering and terrorist organizations are so easily able to be funded while this task force is operating throughout the world.

The next Financial Action Task Force reading from 2011 helped me realize why with all of these 180 countries working together to stop money laundering and terrorist funding why it has not been able to be stopped. The 2011 reading focuses on corruption. The beginning of the reading when it talks about public officials, or politically exposed persons (PEP's) and corruption helps me understand why these crimes still take place. Public officials are high risk for corruption and money laundering because their position gives them access to public funds. As well as the knowledge and ability to control budgets and contracts. They can then use this knowledge and ability to award contracts in return for personal financial reward (FATF, 2011). This sort of angered me because if we cannot defeat corruption, we really will never be able to defeat money laundering. Even if it is not a public official who is corrupt, bank officials can be corrupt and will help criminal organizations launder money and get around the rules and regulations the Financial Action Task Force tries to emplace. I wonder if we cannot defeat corruption can we really defeat criminal organizations?

The last thing I found very interesting this week was the Financial Action Task Force reading from 2016 about terrorist financing and non profit organizations. I think it is obvious that terrorist organizations have been using any organization they can, including non profit organizations to launder money for terrorist purposes for many years. The reading talked about the FATF protecting non profit organizations from financial abuse from terrorist organizations. I feel this is totally backwards. I think many of these non profit organizations understand exactly how they are being used by terrorist organizations. I feel these non profit organizations are helping the terrorist organizations most of the time, not that they are being "abused" by the terrorist organizations who are using them to launder their money. These are a few observations I thought of while completing this week's lesson.

Notes:

Ibid. Global Money Laundering & Terrorist Financing Threat Assessment. July 2010.

Ibid. Laundering the Proceeds of Corruption. July 2011.

Ibid. International Standards on Combating Money Laundering and the Financing of Terrorism and Proliferation. Recommendations. February 2012.

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