Financial Action Task Force (FATF)

The Financial Action Task Force (FATF) is an intergovernmental organization that develops global policies and standards designed to help combat financial crimes, such as money laundering, terrorism financing, and other risks that threaten the integrity of the financial system. The FATF was established in 1989 at the request of the G7. 

The Paris-based organization presents itself as the “international watchdog against money laundering and terrorist financing.” It is well-known for its 40 Recommendations, which serve as a framework that national authorities can adapt to their own legal systems to combat illegal activities.

Frequently asked questions

1

What Type of Crimes Does the FATF Cover?

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2

Who are the Members of the Financial Action Task Force?

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3

What are the FATF Recommendations?

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What is the Role of the FATF in the Context of Virtual Assets (VAs)?

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How Does the FATF Define VAs?

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What are the Consequences for Countries that Fail to Comply with FATF Recommendations?

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7

How Effective is the Financial Action Task Force?

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