CFG is inviting charities to share their experiences of problems sending money to areas affected by conflict and terror activity.

The British Bankers Association asked CFG to carry out the study after becoming aware, through anecdotal evidence, that the de-risking activity being undertaken by banks to minimise money-laundering and funding of terror in conflict zones, is making it increasingly hard for charities to transfer money to fund their work in these locations.

To this end, the BBA and CFG are keen to establish the extent of the problem and the impact it is having, so CFG has launched a survey to gather more information about the effect of sanctioning regimes.

This survey should be answered by those working in charities that transfer money abroad and are responsible for the handling of such funds; typically a finance or operations manager. The deadline is 18 July.
 
Caron Bradshaw, CEO of CFG (pictured), said: “We want to work with banks and iNGOs to achieve a shared understanding of the risks involved in processing overseas transactions and the thorough due diligence processes most charities undertake to ensure their money is reaching its end goal.”

The information will be used on an anonymous basis to contribute to a paper on de-risking in the banking sector being produced by the British Bankers’ Association and by the CFG in their work in this area.