Money laundering or foreign contribution! The spirit of governance in NGOs of India.

Purpose: The present paper aims to discuss the "money laundering" aspect and related governance practices of third sector, non-government organizations (NGOs). In NGOs globally, foreign contributions are not an old story. But in NGOs, the spotlight on the vulnerability of money laundering in the name of foreign contribution(s) requires special attention. The study highlights the dimension of money laundering in an Indian NGO and related dominance of board leadership about governance issues by way of foreign contribution. Design/methodology/approach: The present study uses case study method for enlightening the money laundering tussle in a non-government organization and its governance impact on the stakeholders' interests at large. Findings: The results stress upon the need for to have strong anti-money laundering practices in non-government organizations in the form of foreign contributions which are still struggling to have a sound governance system in place. Practical implications: It is of significance to both policymakers and standards setters at the international level in the light of increasing global awareness about anti-money laundering practices of the third sector. Social implications: There will be an improvement in the corporate management related to money-laundering of these organizations and infuse higher confidence among stakeholders and further lead to their effective regulatory framework. Originality/value: It is an original paper which highlights the role and significance of money laundering practices in the third sector. [ABSTRACT FROM AUTHOR]