UK Initiative Aims to Protect Banking Channels for NGOs in Conflict Zones

By Koos Couvée

U.K. financial institutions are set to receive assurances from the British government over payments to nongovernmental organizations in Syria and other conflict zones, and gain access to better information on the compliance risks associated with them, say sources. Under a forum led by the U.K. Home Office, banks, NGOs, and other government departments such as the Office of Financial Sanctions Implementation, or OFSI, will regularly share data and guidance on the delivery of aid-related payments to regions where legitimate funds are often diverted to terrorists and other blacklisted parties. The forum seeks to address the tendency of banks and other...