The government is advising charities how to ensure that their money doesn’t end up financing foreign terrorists, but many nonprofit groups say the guidelines are more of a headache than a help. The charities say they already track their overseas aid and aren’t equipped for the kinds of investigations the Treasury Department recommends, such as being sure a foreign grant recipient avoids banking with institutions “licensed in a jurisdiction that lacks adequate anti-money-laundering controls.” “In many situations where the need is greatest, for example, there is no banking system,” said Peter Shiras, a senior vice president of Independent Sector. “Oftentimes you have to provide assistance in cash.” Full Story
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