Treasury Department Issues Revised Anti-Terrorist Financing Guidelines Applicable to Both Foreign and Domestic Grants

On Monday, December 5, 2005, the Treasury Department issued revised Anti-Terrorist Financing Guidelines: Voluntary Best Practices for U.S.-Based Charities. The revised Guidelines replace the Guidelines issued by Treasury in November 2002, which established specific due diligence procedures for U.S. charities making grants and conducting activities overseas. The original Guidelines were widely criticized by the nonprofit sector as unnecessarily burdensome and poorly tailored to the objective of preventing funding of terrorist organizations. According to a Treasury press release, the revised Guidelines are effective immediately, although Treasury will accept comments on the revised Guidelines until February 1, 2006, which it will consider in finalizing the Guidelines.

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