Report identifies lack of recourse for entities de-banked over terror financing allegations
What happened
A new report from the International Civil Liberties Monitoring Group examines the practice of de-banking, or derisking, where financial institutions terminate or restrict services for non-profit organizations and individuals.
The report finds that there is a near-total absence of effective recourse for those who have their banking services cut off due to alleged ties to terrorist financing.
Why it matters
The lack of effective recourse mechanisms leaves affected organizations and individuals without a clear path to challenge financial service terminations.
Context
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) serves as the national financial intelligence agency and has been a member of the Egmont Group of Financial Intelligence Units since 2002.
Sources 3 sources
This briefing cites 2 publishers across 2 detected independent reporting streams. Some cited articles appear to be syndicated or near-duplicate coverage, so they are not counted as separate corroboration.
- Airdrie News Action needed to ensure groups aren't unduly 'de-banked' over terror risks: report Detected as syndicated or near-duplicate coverage.
- Infonews Action needed to ensure groups aren’t unduly ‘de-banked’ over terror risks: report
- Wikipedia Financial Transactions and Reports Analysis Centre of Canada Background reference · Wikipedia text used under CC BY-SA 4.0.