Financial Action Task ForceInternational

The Financial Action Task Force (FATF) is an independent intergovernmental body that sets global standards to combat money laundering, terrorist financing, and the proliferation of weapons of mass destruction. Its mandate focuses on establishing regulatory measures, promoting effective legal reforms, and evaluating countries' compliance through mutual evaluations and monitoring lists. Established in 1989 by the G7 Summit in Paris to address growing concerns over drug-trafficking proceeds, its scope was significantly expanded in October 2001 to include terrorist financing following the September 11 terrorist attacks.