FINANCIAL ACTION TASK FORCE-FATF

The Financial Action Task Force (FATF) is an inter-governmental body, established by the G-7 Summit in 1989, with the purpose of promoting national and international policies to combat money laundering. In 1990, the FATF established a set of Forty Recommendations, which provides the international standards for anti - money laundering (AML) strategies. In October 2001, following the terrorist attack of September 11th, the FATF issued the Eight Special Recommendations to combat terrorist financing and revisited the previous Recommendations to respond to the continued evolution of money laundering techniques. In 2004, it issued a Ninth Special Recommendation, further improving AML techniques. The FATF monitors its current 35 members' compliance with its Standards and periodically reviews its mission. In performing these activities, the FATF collaborates with other important international entities as the International Monetary Fund (IMF), the World Bank, the United Nations , the Basel Committee on Banking Supervision (BCBS) and the Egmont Group.
Link: http://www.fatf-gafi.org/pages/0,2987,en_32250379_32235720_1_1_1_1_1,00.html
Editor: Bianca GIANNINI
© 2010 ASSONEBB