Frequently Asked Questions
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The Financial Action Task Force (FATF) is an inter-governmental body whose purpose is the development and promotion of national and international policies to combat money laundering and terrorist financing. The FATF is therefore a 'policy-making body' created in 1989 that works to generate the necessary political will to bring about legislative and regulatory reforms in these areas. The FATF has published 40 + 9 Recommendations in order to meet this objective.
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What's new
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03-Nov-2009
Vital parts of the FATF standards are linked to transparency. The financial crisis reinforces the need for fully effective transparency, this is a high priority issue for the FATF. FATF President Paul Vlaanderen, highlights this and other FATF priorities during his speech at the Carribbean Action Task Force Council of Ministers Meeting on 30 October 2009.
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03-Nov-2009
The Financial Action Task Force (FATF) and the Asian/Pacific Group on Money Laundering (APG) have jointly conducted an assessment of the implementation of anti-money laundering and counter-terrorist financing (AML/CFT) standards in New Zealand. The full report is now available for download, the Executive Summary was published on 21 October 2009.
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30-Oct-2009
The Financial Action Task Force (FATF) and the Caribbean Financial Action Task Force (CFATF) have jointly conducted an assessment of the implementation of anti-money laundering and counter-terrorist financing (AML/CFT) standards in Aruba. The full report is now available for download. The Executive Summary was published on 19 October.
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27-Oct-2009
FATF President Paul Vlaanderen emphasises the importance of the relationship of the FATF with the United Nations, and his commitment to encouraging its growth during his Presidency.
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26-Oct-2009
The securities sector is one of the core industries through which persons and entities can access the financial system, providing opportunities for criminals to misuse the financial system. This FATF study describes (i) how criminals might be able to use securities firms to launder money and finance terrorism and (ii) how illicit funds can be generated through fraudulent activities.
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19-Oct-2009
The FATF has agreed to the guidance paper for the life insurance sector on applying a risk-based approach to combating money laundering and terrorist financing.
The risk-based approach guidance is the result of a joint FATF-private sector project to develop a series of sector-specific guidance papers.
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16-Oct-2009
The Chairman's summary which summarises the decisions taken at the October 2009 Plenary of the FATF, including the FATF statement concerning the anti-money laundering and countering the financing of terrorism (AML/CFT) systems of Iran, Uzbekistan, Turkmenistan, Pakistan and São Tome and Principe.
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14-Oct-2009
The Republic of Korea becomes the 35th member of the FATF.
Member countries of the FATF welcomed the Republic of Korea as a member at the FATF Plenary meeting in Paris 14 October 2009.
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02-Oct-2009
MONEYVAL issued a third public statement in respect of Azerbaijan under Step VI of its Compliance Enhancing Procedures at its 30th Plenary meeting (21-24 September 2009). The first Public Statement issued by MONEYVAL on 12 December 2008 and the second Public Statement of 20 March 2009 remain in effect.
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FATF Annual Report
Highlights from the past year
The Annual Report provides an overview of the work carried out by the FATF during 2008-2009 and highlights the key outcomes that have been achieved during this year.
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