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FATF member countries are strongly committed to the discipline of multilateral monitoring and peer review. The mutual evaluation program is the primary instruments by which the FATF monitors progress made by member governments in implementing the FATF Recommendations.
Each member country is examined in turn by the FATF on the basis of an on-site visit conducted by a small team of experts in the legal, financial and law enforcement fields from other member governments. The purpose of the visit is to draw up a report assessing the extent to which the evaluated country has moved forward in implementing an effective system to counter money laundering and terrorist financing and to highlight areas in which further progress may still be required.
The mutual evaluation process is enhanced by the FATF's policy for dealing with members not in compliance with the Recommendations. The measures contained in this policy represent a graduated approach aimed at reinforcing peer pressure on member governments to take action to tighten their anti-money laundering and counter-terrorist financing systems.
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