The Financial Action Task Force (FATF) is an independent intergovernmental body established in 1989 during the G7 Summit in Paris. It serves as the global standard-setting organization for combating money laundering, terrorist financing, and proliferation financing.
FATF currently has 39 members — 37 countries and 2 regional organizations (the European Commission and the Gulf Cooperation Council). Through its extended global network, more than 200 countries and jurisdictions have committed to implementing FATF’s standards.
FATF sets international standards through its 40 Recommendations, which form a comprehensive framework for countries to incorporate into their legal, regulatory, and operational systems. To ensure effective implementation, FATF conducts periodic peer reviews known as mutual evaluations, assessing how well member countries comply with its guidelines.
Based on these evaluations, FATF also publishes lists of jurisdictions with strategic deficiencies in their AML/CFT frameworks, often referred to as the Grey List and the Black List.
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