Anti-Money Laundering Policies and Programs

This line of service is very sacrosanct as it is intended in opening your eyes to see fraudulent practices and provide adequate professional assistance to you as you perform your roles in the detection of fraud, preventing it and ultimately reporting it.

This is one area where our results have spoken really loud over the years and we are still very available to render this line of service to every organization that needs it.

Money laundering is the process whereby criminals introduce the proceeds of their criminal activities into a financial system through transactions that attempt to disguise the true source of the funds. In terrorism financing, funds may originate from legitimate or criminal sources. These funds are used to finance terrorist activities. Criminals and Terrorists have access to large amounts of currency.

However, until the currency is deposited into the banking system, their ability to utilise it is restricted. Criminals and Terrorists use charities as a means of making cash deposits knowing that they appear to legitimise (or launder) the source of the cash. CNCF is diligent in detecting and reporting suspicious activity. 3 Money laundering is the term used for a number of offences involving the proceeds of crime or terrorist funds.

It includes possessing, or in any way dealing with, or concealing, the proceeds of any crime. The process of money laundering has three stages:

  1. placement, through which the funds (often in cash) enter the financial systems;
  2. layering, by which the funds pass through a complex sequence of transactions designed to make it impossible for investigators to follow a trail of evidence back to the origin of the funds; and
  3. integration, the point at which the funds emerge from the process back into the legitimate economy in a way that they are unrecognisable as the proceeds of crime. Charities can be especially susceptible to the attentions of potential money launderers.
An international presence often in regions where there are serious issues in control and regulation, make them particularly attractive for use as a stage in the layering process.

ANTI-TERRORISM CONSIDERATIONS CNCF is children’s NGO, programme dependent CNCF allocates funds to partners for their exclusive use on humanitarian aid and community development activities to relieve poverty and to address the underlying causes of poverty. Terrorism, in common with other criminal acts, infringes the fundamental rights of the innocent and the powerless and diverts money and attention from the real needs of the communities we are committed to helping. We do not engage with terrorist organisations or give money to partners who carry out, or fund, or advocate terrorist activity.

We are fully committed to ensuring all our business processes minimise the risk of funds being diverted for terrorist or any other criminal purposes. We work within the law to ensure that our work and that of our partners is free from interference and that resources are used for the purposes intended.

OBLIGATIONS OF ALL EMPLOYEES, TRUSTEES, VOLUNTEERS, CONSULTANTS, SECONDED AND INTERNS Current criminal law places three obligations on all persons:

  1. not to assist in the money laundering process through acquiring, concealing, disguising, retaining or using the proceeds of crime
  2. not to prejudice an investigation 3. not to contact any person who has been suspected of, and reported for, possible money laundering in such a way as to make them aware of the suspicion or report (“tipping off”) It is important to note that the law requires all cases of suspicion to be reported, regardless of size.