The FATF is a global body that sets standards for anti-money laundering and counter-terrorism financing measures and has published a series of recommendations to help every country meet those standards.
The consultation focuses on one of its recommendations, referred to as recommendation eight, which is designed to prevent non-profit organisations from being abused for the financing of terrorism.
In a statement alerting the sector to the consultation, the commission said: "The commission considers that charities which work internationally to provide services or which fund overseas partners to do so – particularly in conflict zones or in close proximity to terrorist groups – will find this consultation of particular interest."
The consultation document asks charities to submit any changes they think could be made to the wording of the recommendation to bring it more in line with an FAFT best practices paper on the issue, which was consulted on last year.
Recommendation eight currently says: "Countries should review the adequacy of laws and regulations that relate to entities that can be abused for the financing of terrorism.
"Non-profit organisations are particularly vulnerable, and countries should ensure that they cannot be misused by terrorist organisations posing as legitimate entities, to exploit legitimate entities as conduits for terrorist financing, including for the purpose of escaping asset-freezing measures, and to conceal or obscure the clandestine diversion of funds intended for legitimate purposes to terrorist organisations."
The consultation is open and will run until 6pm on 29 April.
Further information on recommendation eight and how to take part is available on the FATF website.