Netherlands-based bank ABN Amro has introduced a new page on its website that aims to improve financial access for non-profit organisations. ABN Amro has launched this new initiative and has taken these steps in order to help non-profit organizations better navigate modern regulatory environments and achieve their objectives without being negatively affected by anti-money laundering rules.

According to marketscreener. com, non-profit organisations are sometimes negatively affected by stricter anti-money laundering and anti-terrorist financing legislation, especially when it comes to opening bank accounts and transferring money. ABN representatives cited by the same source mentioned how some non-profits sometimes abandon their work because of increasing regulatory pressure.

However, they also brought up how non-profit organisations can be susceptible to misuse, often operating in poor countries where corruption is prevalent, and how some of them can be used to finance terrorism. Collaborating with local partners can be risky as well, since donations may inadvertently end up being allocated to organisations committing human rights violations. Consequently, when it comes to opening bank accounts, non-profits face greater scrutiny as they are required to prove that things like good governance protocols are in place.

ABN Amro aims to spread the word ABN Amro has updated its official website by introducing a new page with information that non-profit organisations need to prepare themselves. The page explains the various risk elements analysed by banks, including independent governance, political activities, and cash flow visibility. Officials from the Human Security Collective welcomed the bank’s efforts.

The new page can help organisations familiarise themselves with the rules and regulations put in place to help prevent money laundering and terrorist financing so that they can achieve greater access to financial services. The role of supervisory authorities was also brought into question by the Human Security Collective. The foundation believes that legislators and regulators should take more responsibility when creating AML rules so that non-profits can continue to help certain countries through humanitarian aid and human rights protection.

The Human Security Collective (HSC) is a foundation based in The Hague working on issues of development, security, and the involvement of citizens in their communities and societies. The foundation believes that the idea of Human Security with its focus on people, relationships and human rights provides an organising frame for action. Based on the elements of trust-creation, local ownership, empowerment, and collective action, its members promote talks between civil society, policy shapers and other actors to promote alternative approaches to current security practices.

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