Charities & NFPs / NGOs

The Financial Action Task Force (FATF) Recommendation # 8 and the Best Practices Paper on Combating the Abuse of Nonprofit Organizations was first written in 2002 at a time when the FATF had just introduced standards to address specific terrorist financing (TF) vulnerabilities and threats in the wake of the 11 September 2001 terrorist attacks. On an equal footing, the preamble of the UN Security Council Resolution 2129 (2013) states that the Council recognizes “the need for Member States to prevent the abuse of non-governmental, non-profit and charitable organizations by and for terrorists

Kuwait Compliance Co. acknowledges the significant role that civil society organizations play in delivering humanitarian services in Kuwait and across the Middle East, in addition to the challenges of aiding destitute individuals and communities. We are keen to facilitate the efforts of charities, NFPs, NPOs and NGOs and protect the integrity of the civil society community by providing services that contribute towards protecting this important sector from terrorist abuse.

Such services include but not limited to:

Providing independent Compliance and Internal Audit Reviews

Recommending improvements and implementation of Compliance and Internal Audit frameworks

Drafting of appropriate manuals, policies, procedures and controls including Risk Management Procedures, KYC, CDD and EDD policies procedures

Assisting with board, management and staff training to better manage the Compliance and Internal Audit framework processes