Procedures for the FATF AML/CFT/CPF Mutual Evaluations, Follow-Up and ICRG

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Assessment Follow-Up ICRG Procedures (2022)

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Download FATF Procedures 2022

As amended in May 2024.

The FATF conducts mutual evaluations and follow‑up monitoring for its members' effectiveness in tackling money laundering, terrorist financing and the financing of proliferation of weapons of mass destructions as well as the level of technical implementation of the FATF Standards. In the context of the work of its International Co-operation Review Group (ICRG), the FATF also identifies and works with countries and jurisdictions from across the Global Network with strategic deficiencies in this area. 

This document sets out the procedures that are the basis for those mutual evaluation, follow‑up and ICRG processes and should be read in conjunction with Consolidated Processes and Procedures for AML/CFT/CPF Mutual Evaluations and Follow-up (Universal Procedures) the FATF Methodology. 

  • The assessment sequence will be based on three factors - the time since a country’s last assessment, its level of ML/TF risks and the relative size of its economy and financial sector.  This ensures that the FATF assesses in priority the countries whose assessments are most outdated, that face higher risks and have important financial sectors.
  • After their mutual evaluation, countries will have three years to take action and address the deficiencies. If they fail to do so, they will automatically face a range of measures, including the possibility of the FATF publicly raising concerns about outstanding deficiencies. 
  • The follow-up assessment process is results-oriented, focusing on specific actions to tackle money laundering, terrorist financing and the financing of weapons of mass destruction.
  • The round of mutual evaluations based on the 2023 Methodology will be a six-year cycle. The shorter cycle, greater scrutiny and strong follow-up mechanisms will ensure that governments stay focused on taking effective action to detect, prevent and punish money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction.

The FATF amended its assessment procedures and methodology in 2022. The FATF commenced its 5th round of evaluations in 2024, using these revised Procedures.

The Procedures for the FATF Fourth Round of AML/CFT Mutual Evaluations and the 2013 FATF Methodology for assessing compliance with the FATF Recommendations and the effectiveness of AML/CFT systems will continue to apply to countries being evaluated and those engaged in follow-up processes under the 4th round of evaluations.

Revision of the Procedures for the 5th Round Mutual Evaluations, Follow-up and ICRG

FATF revised the Assessment Procedures in 2022, following a comprehensive stocktake of the results of its so-called 4th round of mutual evaluation (based on the 2013 Assessment Methodology). This stocktake, the Report on the State of Effectiveness and Compliance with the FATF Standards, looked at what was going well, and the areas where countries needed to improve their performance. Using this information, the FATF made a number of changes to the Procedures and Methodology that will apply to the next round of mutual evaluations.  For all members that have not yet been assessed against the 2013 Assessment Methodology, the revised 5th Round Procedures are published for information only. 


In brief

See also

The Methodology for Assessing Technical Compliance with the FATF Recommendations and the Effectiveness of AML/CFT/CPF Systems

This document is a guide intended for use by assessors who are tasked with conducting a mutual evaluation. The Methodology provides a structured framework of analysis that ensures a level of consistency and high quality of the mutual evaluation reports produced. Latest update: July 2024

Mutual Evaluations

The FATF conducts peer reviews of each member on an ongoing basis to assess levels of implementation of the FATF Recommendations, providing an in-depth description and analysis of each country’s system for preventing criminal abuse of the financial system
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FATF Recommendations

The FATF Recommendations are the internationally endorsed global standards against money laundering and terrorist financing: they increase transparency and enable countries to successfully take action against illicit use of their financial system.
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