FATF is an inter-governmental organisation. It was founded by the G7 in 1989 to develop a global set of standards to combat money laundering.
FATF is based in Paris, France. The FATF recommendations are the internationally endorsed global standards against money laundering and terrorist financing. They increase transparency and enable countries to successfully take action against illicit use of their financial systems.
In addition to setting standards, FATF issue papers related to Anti-Money Laundering (AML), Countering Terrorist Financing (CTF) and various typologies.
On a ten-year cycle, FATF carries out Mutual Evaluation Reviews in individual countries in order to evaluate the country’s compliance with the recommendations and to assess the effectiveness of that compliance.”