Financial Action Task Force
Sign in to saveAlso known as FATF, Financial Action Task Force on Money Laundering
intergovernmental organization to combat money laundering and terrorism financing
Key facts
- Abbreviation
- FATF
- Formation
- 1989 ; 37 years ago ( 1989 )
- Type
- Intergovernmental organisation
- Purpose
- Combat money laundering and terrorism financing
- Headquarters
- Paris
- Region served
- Europe
- Official language
- English , French
- President
- Elisa de Anda Madrazo
- Vice president
- Jeremy Weil
- Website
- fatf-gafi .org
via Wikipedia infobox
Wikidata facts
- Official website
- www.fatf-gafi.org/fr
Show 3 more facts
- inception
- 1989-07-00
- Commons category
- Financial Action Task Force on Money Laundering
- short name
- GAFI
via Wikidata · CC0
~17 min read
Article
The Financial Action Task Force (FATF), also known by its French name, Groupe d'action financière (GAFI), is an intergovernmental organisation founded in 1989 on the initiative of the G7 to develop policies to combat money laundering and to maintain certain interest. In 2001, its mandate was expanded to include terrorism financing. The FATF Secretariat is administratively hosted at the OECD in Paris, but the two organisations are separate.
The objectives of 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. FATF is a "policy-making body" that works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas. FATF monitors progress in implementing its Recommendations through "peer reviews" ("mutual evaluations") of member countries.