Chapter 4 of the Commission’s Compliance toolkit, this guidance explains how charities can use formal banking systems wherever possible when holding, moving and receiving funds in the UK and internationally to ensure that charity funds are safeguarded.
It also covers working with other charities and NGOs and other more risky methods of moving funds, such as:
- money service businesses
- agents using alternative remittance systems
- payment services
- cash couriers
It gives practical advice for trustees on risk management factors and the need for appropriate financial controls and audit trails.