{"id":348525,"date":"2025-10-23T16:11:44","date_gmt":"2025-10-23T10:41:44","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=348525"},"modified":"2025-10-23T16:11:44","modified_gmt":"2025-10-23T10:41:44","slug":"financial-action-task-force-fatf-2","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/financial-action-task-force-fatf-2\/","title":{"rendered":"Financial Action Task Force (FATF)"},"content":{"rendered":"

News:<\/strong> The Financial Action Task Force (FATF) week commenced on October 20, 2025. The meetings are being attended by representatives from more than 200 jurisdictions, along with various observers.<\/p>\n

About Financial Action Task Force (FATF)<\/h2>\n
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Source: Tehran times<\/figcaption><\/figure>\n\n\n\n\n\n\n\n\n\n
About<\/strong><\/td>\nThe FATF<\/strong> is the global watchdog<\/strong> for money laundering<\/strong> and terror financing.<\/strong><\/td>\n<\/tr>\n
Establishment<\/strong><\/td>\nIt was formed in 1989<\/strong> during the G7 Summit in Paris<\/strong> as an inter-governmental body<\/strong>.<\/td>\n<\/tr>\n
Mandate<\/strong><\/td>\nTo set global standards and promotes effective implementation of legal, regulatory, and operational measures<\/strong> to combat: Money laundering, <\/strong>Terrorist financing, <\/strong>Proliferation financing <\/strong>and other threats to the integrity of the international financial system.\u00a0<\/strong><\/td>\n<\/tr>\n
Membership<\/strong><\/td>\n\n
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  • It has 39\u00a0members<\/strong> (Russia <\/strong>membership was suspended in 2023<\/strong>) including U.S.A, India, China, Saudi Arabia, the UK, Germany, France,<\/strong> and the EU<\/strong>.<\/li>\n
  • India<\/strong> became a member in 2010<\/strong>.<\/li>\n
  • Over 180 countries<\/strong> are connected through FATF-style regional bodies (FSRBs)<\/strong>.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
Headquarters<\/strong><\/td>\nParis, France<\/td>\n<\/tr>\n
Functions<\/strong><\/td>\n\n
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  • Monitoring & Informing:\u00a0<\/strong>Tracks how criminals and terrorists raise, use, and move funds and<\/strong> raises awareness on emerging money laundering, terrorist financing, and proliferation financing<\/strong> techniques.<\/li>\n
  • Setting Standards: <\/strong>Issues global recommendations<\/strong> to coordinate action against organised crime, corruption, and terrorism and<\/strong> encourages countries to adopt best practices<\/strong> for preventing illicit financial activities.<\/li>\n
  • Assessing Compliance: <\/strong>Evaluates whether member countries are taking effective legal and operational measures<\/strong>.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
Non-Compliance Measures<\/strong><\/td>\n\n