A workshop was held yesterday to validate the National Risk Assessment for non-profit organisations, considered to be more likely at risk of terrorist financing.
The workshop at the Eden Bleu hotel was jointly organised by the Seychelles authorities and the European Union Global Facility on Anti-Money Laundering and Countering the Financing of Terrorism.
It was attended by representatives of different non-profit organisations (NPOs) from Seychelles, as well as local and international experts.
In April last year, the Seychelles government in collaboration with experts contracted by the European Union Global Facility on Anti-money Laundering and countering the Financing of Terrorism, launched its National Risk Assessment for NPOs.
A series of consultative engagements were conducted through industry dialogues, focused group discussions and a survey was carried out with the objective to understand the risks posed by the sector. The National Risk Assessment working group came up with a first draft of the NRA inherent risk report to which the information received had to be validated with all relevant stakeholders. The preliminary findings revealed that Seychelles has a very low risk for financial terrorism.
The validation session was organised so that the NPO sector and other concerned institutions could validate the inherent risk report. The participants input throughout the session were also to be considered before the completion of the inherent risks report.
Speaking at the opening of yesterday’s workshop, Richard Rampal, a member of the AML-CFT committee said the government recognises the essential role that non-profit organisations play in supporting the social and economic well-being of the country, often complementing the government’s efforts to provide services, goods, assistance and resources to serve the different needs and interest of the community.
He also stated that such risk assessment will not be a one-off exercise, as new threats will continuously emerge over time.
For his part, the chief executive of the Citizens Engagement Platform Seychelles (Ceps), Alvin Laurence, said the workshop would allow them to assess how to remain at very low risk.
“What is more important is how to maintain ourselves at the lowest possible risk, so that we always remain one of the countries that has a minimum risk for financial terrorism,” he said.
It should be noted that Seychelles as a country undertakes preventative and mitigating measures to prevent NPOs from being misused or abused for terrorist financing.
Courtesy: Diane Larame (Nation.sc)