Paris, 22 February 2013 - The Financial Action Task Force’s new Methodology for assessing technical compliance with the FATF Recommendations and the Effectiveness of AML/CFT systems sets out how the FATF will determine whether a country is sufficiently compliant with the 2012 FATF Standards  and whether its AML/CFT system is working effectively.
The FATF is the global standard-setter in the fight against money laundering, and the financing of terrorism and proliferation of weapons of mass destruction. Over the past twenty years the FATF has developed, used and refined rigorous compliance mechanisms to help ensure global compliance with its Standards. It assesses compliance through a stringent country evaluation and monitoring process. A new round of evaluations will begin in 2014.
The new Methodology will provide the basis for an integrated analysis of the extent to which a country is compliant with the FATF Standards and the level of effectiveness of its AML/CFT system.
Bjørn S. Aamo, President of the FATF, said
“The new Methodology adds a new dimension to the evaluation of countries compliance with FATF-standards. It remains as important as before that all countries implement the Recommendations of the FATF in their legal systems, however, the new Methodology lays the foundation for a systematic assessment of the effectiveness of national systems.”
“The future assessments will determine how well countries achieve the objective of fighting Money Laundering and Financing of Terrorism.”
The Methodology comprises two inter-linked components:
The Methodology will be used by the FATF, the FATF-Style Regional Bodies (FSRBs) and other assessment bodies such as the IMF and the World Bank.
 The FATF Standards are comprised of the FATF Recommendations, their Interpretive Notes and applicable definitions from the Glossary.
last updated: 17 Apr. 2013