Long abstract

The current remit of the FATF expires at the end of August 2004. Considerable progress has been made in the fight against money laundering since the inception of the FATF in 1989. However, the FATF still has a major task to perform in continuing to set standards in the context of an ever more sophisticated international financial system. This key role should be completed by carrying out typologies and compliance work in order to ensure global action against money laundering. Following the expansion of its mandate in 2001 to include the fight against terrorist financing and the introduction of the Eight Special Recommendations, the FATF opened up an entirely new area of work. Although much has been done, there is an obvious need for continuing mobilisation at the international level to deepen and broaden anti-money laundering action and the fight against terrorist financing. This document, therefore, sets out the main tasks of the future mandate of the FATF.