'A Review of Not-For-Profit Organisations, Their Giving, and the new Money Laundering, Anti-Terrorism and Asset Freezing Legislation Implemented in the US, Canada, UK, France and Germany '

Extract

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'A Review of Not-For-Profit Organisations, Their Giving, and the new Money Laundering, Anti-Terrorism and Asset Freezing Legislation Implemented in the US, Canada, UK, France and Germany '

Summary

An examination of the implementation of money laundering laws in UK,US, Canada, France and Germany after 2001 appears to have succeeded only in psychologically allaying popular fear by visible actions that appear to be combating terrorism. This review shows the difference in attitudes between the different states in their approach to charities. Germany and France not creating special legislation for charities with extremely generous tax breaks, whilst the federal United States stepped up its Inland Revenue Investigations as a monitoring method. The United Kingdom has only just introduced a new Charities law and recent money laundering legislation. Overall, all these countries spent many times more United states dollars per capital on anti-terrorism laws than they gave to charity.

The writer concludes that, even if this emergency and undemocratic law-making was the incorrect route to take, it might be argued that it is successful in allaying people's fears, whilst conciliation is sought to placate those who are bitter at the apparent injustice of globalised law and economics.

Introduction

Not-For-Profit Organisations And What They Represent

In the area of corporate responsibility, not-for-profit companies1 mostly have a stewardship role for members and this does not have different governance implications from business corporations. A not-for-profit organisation2 has a fundamental difference in its relationship with company members to the relationship of profit organisation and its company members. Non-for-profit organisations, formed to collect money to give aid to developing countries, aid for earthquake crisis situations, aid to the poor and homeless, to build schools, hospitals, etc., have members whose commitment to the company is to donate money to th...

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