FATFrelated

The Financial Action Task Force (FATF) is an intergovernmental body established in 1989 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's work is guided by the FATF Recommendations, a set of 40 standards that provide a comprehensive framework for effective money laundering and terrorist financing prevention and control.

The FATF's membership consists of 39 jurisdictions, including 38 countries and the European Commission. The FATF's Secretariat is located in Paris, France, and is headed by a Secretary General. The FATF's work is supported by a network of regional bodies, including the Asia/Pacific Group (APG), the Europe Group (EG), the Latin America Group (GAL), and the Middle East and North Africa Group (GMENA).

The FATF's work is based on a risk-based approach, which takes into account the specific risks and vulnerabilities of each jurisdiction. The FATF's standards are designed to be flexible and adaptable, allowing jurisdictions to tailor their implementation to their specific needs and circumstances.

The FATF's work is guided by a set of principles, including the principle of mutual evaluation, which requires jurisdictions to undergo a peer review of their implementation of the FATF Recommendations. The FATF's mutual evaluation process is designed to promote transparency, accountability, and continuous improvement in the fight against money laundering and terrorist financing.

The FATF's work is also guided by the principle of cooperation, which emphasizes the importance of international cooperation and information sharing in the fight against money laundering and terrorist financing. The FATF's work is supported by a number of international instruments, including the United Nations Convention against Corruption (UNCAC) and the United Nations Convention against Transnational Organized Crime (UNTOC).

The FATF's work is guided by the principle of proportionality, which requires jurisdictions to implement measures that are appropriate and necessary to address the specific risks and vulnerabilities of their financial systems. The FATF's work is guided by the principle of effectiveness, which requires jurisdictions to implement measures that are effective in preventing and detecting money laundering and terrorist financing.

The FATF's work is guided by the principle of public-private sector cooperation, which emphasizes the importance of cooperation between the public and private sectors in the fight against money laundering and terrorist financing. The FATF's work is guided by the principle of capacity building, which emphasizes the importance of building the capacity of jurisdictions to implement the FATF Recommendations.