Financial Action Task Force (Fatf)
| The Financial Action Task Force (FATF) is an international organization that establishes international principles to fight money laundering and terrorist financing (AML/CFT). The FATF was established in 1989 by the Ministers of its Member jurisdictions. The FATF is a policy-making body which works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas. The FATF also provides guidance to countries on implementing effective AML/CFT controls and works with the private sector to develop practical measures to prevent and detect money laundering and terrorist financing. In addition, the FATF monitors progress in its member countries in implementing necessary measures, reviews money laundering and terrorist financing trends and techniques and promotes the adoption and implementation of appropriate measures globally. The FATF is therefore a critical component in the global fight against money laundering and terrorist financing. |
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