Search results
The FATF Recommendations provide a comprehensive framework of measures to help countries tackle illicit financial flows. These include a robust framework of laws, regulations and operational measures to ensure national authorities can take effective action to detect and disrupt financial flows that fuel crime and terrorism, and punish those ...
Feb 16, 2012 · The FATF Recommendations set out a comprehensive and consistent framework of measures which countries should implement in order to combat money laundering and terrorist financing, as well as the financing of proliferation of weapons of mass destruction. Countries have diverse legal, administrative and operational frameworks and different ...
The original FATF Forty Recommendations were drawn up in 1990 as an initiative to combat the misuse of financial systems by persons laundering drug money. In 1996 the Recommendations were revised for the first time to reflect evolving money laundering typologies. The 1996 Forty Recommendations have been endorsed by more than 130 countries and ...
The Financial Action Task Force (FATF) is the global money laundering and terrorist financing watchdog. It sets international standards that aim to prevent these illegal activities and the harm they cause to society. Find out more about the issues that the FATF is working on, such as: Methods and Trends. FATF Recommendations.
The FATF Recommendations were revised a second time in 2003, and these, together with the Special Recommendations, have been endorsed by over 180 countries, and are universally recognised as the international standard for anti-money laundering and countering the financing of terrorism
Nov 16, 2023 · In 2021, the FATF started a project to analyse and understand the unintended consequences resulting from incorrect implementation of the FATF Standards. These amendments seek to address the misapplication and misinterpretation of R.8, that had led countries to apply disproportionate measures on NPOs, impeding their ability to operate and pursue their missions effectively, to access resources, and in some cases, to continue their legitimate operations.
Feb 26, 2024 · The FATF is seeking views on proposed amendments to Recommendation 16, to reflect the rapid development of cross-border payment systems, and changes to industry standards, in particular ISO20022. These revisions aim to help make cross-border payments faster, cheaper, more transparent and more inclusive whilst ensuring AML/CFT compliance, and ensure that FATF Recommendation 16 remains technology-neutral.
The FATF Recommendations set out a comprehensive and consistent framework of measures which countries should implement in order to combat money laundering and terrorist financing, as well as the financing of proliferation of weapons of mass destruction.
FATF Glossary. Use the arrows on the right to expand the relevant section and view individual terms. For further information, see the source indicated. A comprehensive compilation of FATF terminology, as referred to in the FATF Recommendations and FATF Methodology.
Oct 28, 2021 · Paris – 28 October 2021 - The virtual asset sector is fast-moving and technologically dynamic, which means continued monitoring and engagement between the public and private sectors is necessary. In October 2021, the FATF updated its 2019 Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers (VASPs).
