Specified Non-Profit Organisations

The Authority is responsible for overseeing Specified Non-Profit Organisations (“SNPOs”) for AML/CFT.

SNPO is defined in Schedule 4 to the Proceeds of Crime Act 2008 as:

a body corporate or other legal person, the trustees of a trust, a partnership, other unincorporated association or organisation or any equivalent or similar structure or arrangement, established solely or primarily to raise or distribute funds for charitable, religious, cultural, educational, political, social, fraternal or philanthropic purposes with the intention of benefiting the public or a section of the public —

  1. which has an annual or anticipated annual income of £5,000 or more;
  2. which has remitted, or is anticipated to remit, at least £2,000 in any one financial year to one or more ultimate recipients in or from one or more higher risk jurisdictions; and
  3. where the decision as to where to remit the funds is made in the Island,

and for the purpose of this definition “higher risk jurisdiction” means a jurisdiction which the specified non-profit organisation, having considered any relevant guidance, determines presents a higher risk of money laundering, the financing of terrorism or of proliferation;

Since 2015, SNPOs have been required to register with the Authority as Designated Non-Financial Businesses or Professions (“DNFBPs”) in accordance with the Designated Businesses (Registration and Oversight) Act 2015.

As per the Designated Businesses (Fees) Order 2023, SNPOs are not required to pay application or annual registration fees. Information on registering as a DNFBP can be found here.

SNPOs are required to comply with the requirements of the Anti-Money Laundering and Countering the Financing of Terrorism (Specified Non-Profit Organisations) Code 2019.