The Financial Action Task Force (FATF) is an inter-governmental body established in 1989 by the Ministers of its Memberjurisdictions. The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.
The FATF is therefore a “policy-making body” which works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas.
In response to mounting concern over money laundering, the Financial Action Task Force on Money Laundering (FATF) was established by the G-7 Summit that was held in Paris in 1989. Recognising the threat posed to the banking system and to financial institutions, the G-7 Heads of State or Government and President of the European Commission convened the Task Force from the G-7 member States, the European Commission and eight other countries.
The Task Force was given the responsibility of examining money laundering techniques and trends, reviewing the action which had already been taken at a national or international level, and setting out the measures that still needed to be taken to combat money laundering. In April 1990, less than one year after its creation, the FATF issued a report containing a set of Forty Recommendations, which were intended to provide a comprehensive plan of action needed to fight against money laundering.
In 2001, the development of standards in the fight against terrorist financing was added to the mission of the FATF. In October 2001 the FATF issued the Eight Special Recommendations to deal with the issue of terrorist financing. The continued evolution of money laundering techniques led the FATF to revise the FATF standards comprehensively in June 2003. In October 2004 the FATF published a Ninth Special Recommendations, further strengthening the agreed international standards for combating money laundering and terrorist financing - the 40+9 Recommendations.
| In February 2012, the FATF completed a thorough review of its standards and published the revised FATF Recommendations. This revision is intended to strengthen global safeguards and further protect the integrity of the financial system by providing governments with stronger tools to take action against financial crime. They have been expanded to deal with new threats such as the financing of proliferation of weapons of mass destruction, and to be clearer on transparency and tougher on corruption. The 9 Special Recommendations on terrorist financing have been fully integrated with the measures against money laundering. This has resulted in a stronger and clearer set of standards. |
The FATF has developed a series of Recommendations that are recognised as the international standard for combating of money laundering and the financing of terrorism and proliferation of weapons of mass destruction. They form the basis for a coordinated response to these threats to the integrity of the financial system and help ensure a level playing field.
First issued in 1990, the FATF Recommendations were revised in 1996, 2001, 2003 and most recently in 2012 to ensure that they remain up to date and relevant, and they are intended to be of universal application.
The FATF monitors the progress of its members in implementing necessary measures, reviews money laundering and terrorist financing techniques and counter-measures, and promotes the adoption and implementation of appropriate measures globally. In collaboration with other international stakeholders, the FATF works to identify national-level vulnerabilities with the aim of protecting the international financial system from misuse.
The FATF's decision making body, the FATF Plenary, meets three times per year.
| PASSION
- we are passionate about fighting money laundering and terrorist financing |
| INTEGRITY
- always acting with integrity, honesty, objectivity and transparency is at the core of who we are and what we do |
| RESPECT
- we respect and trust each other’s values, differences and contributions |
| COLLABORATION
- together we are stronger and we make a difference |
The Financial Action Task Force (FATF) was established in July 1989 by a Group of Seven (G-7) Summit in Paris, initially to examine and develop measures to combat money laundering. Click here to see the Economic Declaration from that G-7 Summit.
In October 2001, the FATF expanded its mandate to incorporate efforts to combat terrorist financing, in addition to money laundering.
Since its inception, the FATF has operated under a fixed life-span, requiring a specific decision by its Ministers to continue. The current mandate of the FATF (2012-2020) was adopted at a Ministerial meeting in April 2012.
The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system. Starting with its own members, the FATF monitors countries' progress in implementing the FATF Recommendations; reviews money laundering and terrorist financing techniques and counter-measures; and, promotes the adoption and implementation of the FATF Recommendations globally.
The FATF currently comprises 36 member jurisdictions and 2 regional organisations, representing most major financial centres in all parts of the globe.
| Argentina | France | Japan | Russian Federation |
| Indonesia |
The following international organisations have observer status with the FATF. The international organisations listed are those which have, among other functions, a specific anti-money laundering mission or function. To access additional information on any of these bodies or organisations, select the appropriate hyperlink.
See also:
22 Feb 2019
FATF is setting out more detailed implementation requirements for effective regulation and supervision/monitoring of virtual asset services providers, in order to adequately mitigate the ML/TF risks associated with virtual asset activities. At its Plenary of February 2019, the FATF finalised the text of the new Interpretive Note for Recommendation 15.
21 Feb 2019
An up-to-date overview of the ratings on both effectiveness and technical compliance for all countries assessed against the 2012 FATF Recommendations and using the 2013 Assessment Methodology.
Consolidated table of assessment ratings - pdf format (pdf, )
30 Oct 2018
La nouvelle Méthodologie du GAFI permettra de déterminer si un pays présente un niveau de conformité suffisant avec les Recommandations du GAFI, et si son système de lutte contre le blanchiment de capitaux et le financement du terrorisme fonctionne de façon efficace.
30 Oct 2018
The FATF Methodology for assessing compliance with the FATF Recommendations and the effectiveness of AML/CFT systems sets out the evaluation process.
26 Oct 2018
The guidance aims to support the design and implementation of the risk-based approach for securities products and services, by providing specific guidance and examples for securities providers and their supervisors.
Risk-based Approach Guidance for the Securities Sector (pdf, )
25 Oct 2018
The Guidance aims to support the design and implementation of the RBA for the life insurance sector, taking into account national ML/TF risk assessments and legal and regulatory frameworks to combat money laundering and terrorist financing
Risk-based Approach Guidance for the Life Insurance Sector (pdf, )
19 Oct 2018
The FATF Recommendations are the basis on which all countries should meet the shared objective of tackling money laundering, terrorist financing and the financing of proliferation. The FATF calls upon all countries to effectively implement these measures in their national systems.
20 Jul 2018
This document sets out the procedures that are the basis for that fourth round of mutual evaluations which will involve two inter-related components for technical compliance and effectiveness.
17 Jul 2018
The effectiveness of measures to combat money laundering and terrorist financing depend on a country's assessment and understanding of the risks it is exposed to, and the extent to which it has mitigated these risks. This page includes examples of published national risk assessments (NRAs) and regional risk assessments.
06 Jul 2018
The FATF is developing guidance to assist countries, competent authorities, insurers and insurance intermediaries in the application of a risk-based approach (RBA) to AML/CFT in the Life Insurance Sector. FATF is consulting private-sector stakeholders on the text of this Draft RBA Guidance for the Life Insurance Sector. The public consultation is now closed.
06 Jul 2018
The FATF is developing guidance to assist countries, competent authorities and the securities sector in the application of a risk-based approach (RBA) to AML/CFT in the Securities Sector. FATF is consulting private-sector stakeholders on the text of this Draft RBA Guidance for the Securities Sector. The public consultation is now closed.
06 Mar 2018
BCBS, CPMI, FATF and FSB welcome the industry initiative, the Correspondent Banking Due Diligence Questionnaire, recently published by the Wolfsberg Group, that facilitates correspondent banking.
28 Feb 2018
This non-binding guidance aims to help both public and private sector stakeholders understand and implement the obligations of the UNSCRs, as well as how to prevent sanctions from being evaded. It also aims to assist public sector stakeholders in building a more effective national coordination mechanism and supervisory regime to counter proliferation financing
21 Nov 2017
This document groups the relevant sections on information sharing from the FATF Recommendations, to clarify the types of information that should be shared, when it should be shared and the safeguards and protections that should apply to sharing information.
The Consolidated FATF Standards on Information Sharing (pdf, )
04 Nov 2017
This FATF guidance clarifies key FATF Standards on information sharing and provides examples to overcome information sharing, both group-wide withing financial groups, and between financial institutions which are not part of the same group.
03 Nov 2017
FATF statement that emphasises that FATF strongly supports responsible financial innovation that is in line with the AML/CFT requirements found in the FATF Standards, and will continue to explore the opportunities that new financial and regulatory technologies may present for improving the effective implementation of AML/CFT measures.
11 Jul 2017
G20 Leaders strengthen their efforts to tackle terrorist financing together.
06 Jul 2017
This report sets out FATF’s ongoing work to fight money laundering and terrorist financing, with the support of the G20.
29 Jun 2017
The FATF is developing guidance to promote and provide country examples on how to promote information sharing within financial institutions, including through public-private partnerships. The FATF is consulting private sector stakeholders before the guidance is finalised (the public consultation is now closed).
29 May 2017
Outcomes of the FATF FinTech and RegTech Forum which took place on 25-26 May 2017 and brought together over 150 representatives from FinTech and RegTech sectors, financial institutions and FATF members and observers.