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The Financial Action Task Force (FATF) sets international standards to prevent illegal activities and their harm to society. Learn about its topics of work, such as corruption, digitalisation, environmental crime, and more.
- Publications
Financial Action Task Force of Latin America (GAFILAT) Inter...
- The FATF
The Financial Action Task Force (FATF) leads global action...
- What we do
The Financial Action Task Force (FATF) leads global action...
- The FATF Recommendations
Topic. FATF Recommendations. As amended November 2023. The...
- Who We Are
The Financial Action Task Force (FATF) is the global money...
- Mandate of The FATF
The Financial Action Task Force (FATF) is an...
- FATF Recommendations
The FATF Recommendations are the internationally endorsed...
- Countries
FATF and FATF-Style Regional Bodies. Country-specific...
- Publications
The Financial Action Task Force (on Money Laundering) ('FATF, aka "Faftee"), also known by its French name, Groupe d'action financière (GAFI), is an intergovernmental organisation founded in 1989 on the initiative of the G7 to develop policies to combat money laundering and to maintain certain interest. [3]
The FATF is a 40-member body that sets international standards to prevent money laundering, terrorist and proliferation financing. It researches, promotes and assesses global compliance with the Standards and holds countries accountable if they fail to implement them.
- What Is The FATF?
- Who Are The Members and Observers of FATF?
- Who Is The FATF President?
- What Is The FATF Secretariat?
- What Are The Grey and Black Lists of The FATF?
- What Are The Issues Associated with FATF?
- What Can Be Done to Strengthen FATF?
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About:Objective:FATF Recommendations:FATF Sessions:Members:India and FATF: India joined with ‘observer’ status in 2006 and became a full member of FATF in 2010.Observers:The FATF President is asenior official appointed by the FATF Plenary from among its members.The term of the President begins on 1 July and ends on 30 June two years after assuming office.The FATF Secretariat is located at theOECD headquarters in Paris.The Secretariat supports the substantive work of the FATF membership and global network.Thefunding for the FATF Secretariat and other services is provided by the FATF annual budget to which members contribute.About: The FATF Plenary meets tri-annually - in February, June and October, to take stock of “Mutual Evaluation Reports” (MERs) of the countries it reviews.Grey List: The Grey List includes countries that are considered safe haven for supporting terror funding and money laundering.Black List: The Black List includesNon-Cooperative Countries or Territories (NCCTs) that support terror funding and money laundering activities.Consequences of Being Enlisted in FATF Lists: The enlisted countries are subjected to:The challenges associated with the adoption and implementation of FATF codes in member states include:The challenges associated with the implementation of new technologies for AML/CFT include:The other factors that encourage ML/TF include:Risk Assessment: The risk-based approach should be the cornerstone of an effective AML/CFT system, and is essential to properly managing risks. A robust knowledge and awareness of risks, which allo...Data Sharing: A greater capacity to collect and process data, as well as share it among stakeholders,could offer significant advantages in combating ML/TF.Application of Modern Technology: Theapplication of machine learning and other Artificial Intelligence based tools which allow forreal time, quick and more accurate data analysismay offer the solut...FATF is a 39-member body that sets standards and monitors countries' compliance with anti-money laundering and counter-terrorist financing measures. Learn about its history, recommendations, sessions, members, observers, president, secretariat, and grey and black lists.
The Financial Action Task Force (FATF) leads global action to tackle money laundering, terrorist and proliferation financing. The FATF researches how money is laundered and terrorism is funded, promotes global standards to mitigate the risks, and assesses whether countries are taking effective action.
Jul 31, 2022 · FATF is an intergovernmental organization that designs and promotes policies and standards to combat financial crime. It was created in 1989 and has 39 members, including the UN and the World Bank, that endorse and support its recommendations.
Learn about the FATF, the international standard-setting body for anti-money laundering, countering of the financing of terrorism, and countering proliferation financing. Find out how the U.S. represents and leads the FATF, and access its publications, guidance, and typologies.
