Financial Action Task Force
http://www.fatf-gafi.org
Type
Regulatory
Jurisdiction
Global
Sponsor/Regulator
Description
The Financial Action Task Force (FATF) is an inter-governmental body whose purpose is the development and promotion of policies, both at national and international levels, to combat money laundering and terrorist financing.
Key Facts
The FATF's 40 Recommendations on money laundering provide a complete set of counter-measures against money laundering (ML) covering the criminal justice system and law enforcement, the financial system and its regulation, and international co-operation. Since October 2001, the FATF mandate includes terrorist financing. As a first step, the FATF issued 8 Special Recommendations against Terrorist Financing in October 2001. A ninth Special Recommendation was added in June 2004. In addition, in 2003, terrorist financing issues were added to the scope of the 40 FATF Recommendations, where appropriate.
Who it affects
Businesses and individuals in
36 signatory countries.
Additional Information
FATF Guidance on Anti-Money Laundering and Terrorist Financing Measures and Financial Inclusion
Nine Recommendations on Terrorist Financing
FATF on Wikipedia