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FATF Mandate (58Kb, PDF, English)
The FATF is an inter-governmental policy-making body whose purpose is to establish international standards, and develop and promote policies, both at national and international levels, to combat money laundering (ML) and terrorist financing (TF).
It was established in July 1989 by a Group of Seven (G-7) Summit in Paris, initially to examine and develop measures to combat money laundering. Click here to see the Economic Declaration from that G-7 Summit.
In October 2001, the FATF expanded its mandate to incorporate efforts to combat terrorist financing, in addition to money laundering.
Since its inception, the FATF has operated under a finite life-span, requiring a specific decision of the Task Force to continue. The current mandate of the FATF (for 2004-2012) was subject to a mid-term review in 2007-2008 and was reaffirmed and revised at a Ministerial meeting in April 2008.
The priority of the FATF is to ensure global action to combat money laundering and terrorist financing, and concrete implementation of its 40+9 Recommendations throughout the world. Starting with its own members, the FATF monitors countries' progress in implementing AML/CFT measures; reviews money laundering and terrorist financing techniques and counter-measures; and, promotes the adoption and implementation of the 40+9 Recommendations globally.
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