Charities & Non-Profits + Anti-Money Laundering (AML): The Challenge
As charity, preparing bank statements for anti-money laundering (aml) is a common but time-consuming task. AML compliance officers need to review bank statements to identify suspicious transactions, unusual patterns, and politically exposed person (PEP) activity.
How BankScan AI Helps Charities & Non-Profits with Anti-Money Laundering (AML)
Make bank statement reconciliation simple for volunteer treasurers. Upload statements, get clean spreadsheets for your financial reports. For anti-money laundering (aml) specifically, BankScan AI extracts Transactions inconsistent with known client profile, cash deposits near reportin automatically.
How Charities & Non-Profits Handle Anti-Money Laundering (AML)
When preparing bank statements for anti-money laundering (aml), charities & non-profits need to Charity treasurers collect bank statements monthly, reconcile them against donation records and grant income, allocate expenditure to restricted and u. BankScan AI automates the data extraction step.
Key terms you'll encounter: restricted funds, unrestricted funds, fund accounting, Charity SORP.
How It Works
Upload bank statement PDFs
Supports all major banks. Upload Ongoing monitoring typically reviews 3-12 months; enhanced due diligence on high-risk clients may require 2+ years of transaction history of statements for anti-money laundering (aml).
AI extracts what you need
Our AI extracts Transactions inconsistent with known client profile, cash de — formatted for charities & non-profits workflows.
Complete your anti-money laundering (aml) work
Download Excel files ready for anti-money laundering (aml). Sortable by amount (descending) to identify large transactions, filterable by transaction type, with counterparty names searchable for sanctions list cross-referencing
Supported Banks
BankScan AI works with all major UK and US banks, including:
Features for Charities & Non-Profits — Anti-Money Laundering (AML)
- Built for Charities & Non-Profits — Saves volunteer treasurers 2-3 hours per month on bank reconciliation, reducing reliance on accounting expertise that small charities often lack
- Software compatible — Output works directly with Xero, QuickBooks, LibreOffice Calc
- Built for Anti-Money Laundering (AML) — Convert bank statements to searchable, sortable spreadsheets for systematic AML review, transaction pattern analysis, and suspicious activity report preparation.
- Key data extracted — Transactions inconsistent with known client profile, cash deposits near reporting thresholds (structuring), international transfers to high-risk jurisdictions, rapid movement of funds through accounts
Compliance: Charities & Non-Profits + Anti-Money Laundering (AML)
When charities & non-profits prepare bank statements for anti-money laundering (aml), specific compliance requirements apply.
- Charities with income over 250,000 GBP must have accounts independently examined or audited. The Charity Commission requires annual accounts and returns, and SORP (Statement of Recommended Practice) governs how charity accounts are prepared. Fund accounting rules require income to be tracked against specific restricted funds.
- Legal basis: Proceeds of Crime Act 2002 sections 327-329; Money Laundering Regulations 2017 (SI 2017/692); FCA Financial Crime Guide (FCG)
Anti-Money Laundering (AML) — Built for Charities & Non-Profits
Suspicious Activity Reports (SARs) should be filed with the NCA promptly; consent SARs require a response within 7 working days plus a 31-day moratorium period
Try Free — Charities & Non-Profits + Anti-Money Laundering (AML)