UK: 4 THINGS CHARITIES NEED TO KNOW ABOUT FINANCIAL SANCTIONS

A blog post from OFSI on 13 November from the Charity Commission listed the 4 things – that financial sanctions exist; it is the responsibility of a charity to check; you may need a licence to allow certain activity; and charities must report any breaches.  The Charity Commission he CCEW supported OFSI in developing a dedicated factsheet which includes top tips and practical examples.  A Compliance Toolkit also has detailed guidance and useful tools to help charities working internationally covering everything from risk assessment and due diligence to moving money and monitoring funds.

https://ofsi.blog.gov.uk/2020/11/13/4-things-charities-need-to-know-about-financial-sanctions/

Factsheet –

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/653168/OFSI_Charity_FAQ_web.pdf

Protecting charities from harm: compliance toolkit – how to safeguard your charity from terrorism, fraud and other abuse

https://www.gov.uk/government/collections/protecting-charities-from-harm-compliance-toolkit

I had omitted the following link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s