NGOs - 'subjects at risk' in the money laundering framework. What should NGOs do in order to counteract this ‘risk’ status?

NGOs should follow the FATF recommendations on preventing terrorism financing activities. Countries must review the adequacy of their laws and regulations concerning the entities likely to be abused for terrorist financing purposes and, among these, NGOs appear to be particularly vulnerable. Each country should ensure that they cannot be improperly used. Observing the establishment of new NGOs scattered around the world could represent an important indicator to prevent the threat, as well as the possibility of having a tax regime that regulates NGOs in a clearer way and the possibility of a universally recognized code of ethics which could set standards and strengthen transparency. NGOs should have a more transparent shareholding structure so as to easily identify the beneficial owner, present a true and fair balance sheet and ensure transparent traceability of their operations. Funding through cash donations leaves many doubts about the final destination of the funds