High-Level Principles & Objectives for FATF and FSRBs
In October 2012, the FATF Plenary adopted a set of high-level principles and objectives - a list of rights and obligations that apply to both the FATF and the FATF-style regional bodies (FSRBs) - which govern the relationship between the FATF and the FSRBs.
The FATF and FSRBs are interdependent partners in the global anti-money laundering and countering the financing of terrorist network. This common purpose is best achieved by a collaborative approach to their activities, in particular the peer review process.
These high-level principles and objectives also form the basis for the work of the Global Network Co-ordination Group, a working group within FATF which is co-chaired by a representative from an FATF member and a representative from an FSRB member. The high-level principles and objectives were updated in February 2016 and in February 2018, with the inclusion of an annex on principles on Financial Governance for FATF/FSRBs.