Related Terms
DEFINITION
FATF (Financial Action Task Force)
FATF is the international standard-setting body for anti-money laundering and counter-terrorist financing, issuing recommendations that most jurisdictions worldwide use as the basis for their financial crime laws and regulations.
Synonyms
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Acronyms
FATF
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Synonyms
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Acronyms
FATF
Examples
The bank’s policies align with the FATF Recommendations, which are considered the global benchmark for AML/CFT standards.
FAQ
What is the role of the FATF?
FATF sets global AML/CFT standards, assesses country compliance, and facilitates international cooperation against financial crime.
How many countries are members of the FATF?
FATF has 39 members, including major economies and two regional organizations, representing most major financial centers.
What are the FATF Recommendations and why are they important?
The 40 Recommendations are the global benchmark for AML/CFT rules, shaping national laws and bank compliance programs worldwide.
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