Financial Action Task Force - Thirty Years

FATF 30 Years (1989-2019)

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Three decades ago, the G7 leaders created the Financial Action Task Force, the FATF, to fight the organised financial flow from crime and drug trade. The G7 tasked the FATF with examing money laundering techniques and trends, reviewing action which had already been taken at a national or international level, and setting out the measures needed to combat money laundering. Since then, the FATF's mandate expanded to include action to fight terrorist financing and the financing of weapons of mass destruction.  

The publication FATF 30 Years (1989-2019) retraces the progress that the FATF has made during the past three decades, and the work that lies ahead for the members of the FATF Global Network.  

In this publication: 

 

A new task force to keep to keep drug money out of the financial system  -  What is the Financial Action Task Force, created over three decades ago to tackle the laundering of drug cartels' profits?  More about this task force, its Plenary, its Working Groups and more.

 

What have we achieved?  -  The FATF has made important contributions to the safety and security of our society and its citizens.  Through the FATF, countries now understand better how criminals launder the proceeds of their crimes and how terrorists can collect money and other assets to support their activities that can have such a devastating impact on the lives of innocent civilians.  The FATF has developed a  robust framework of measures to help countries fight money laundering and disrupt terrorist financing.  The FATF, together with its FATF-Style Regional Bodies, ensures that over 200 countries around the world implement these measures effectively, so that they are able to keep criminals and terrorist out of the financial system. 

 

The future  -  With a new, open-ended mandate as an international organisation, what lies ahead for the FATF? FATF wil continue to respond to evolving threats to the financial system and to ensure that countries implement the necessary measures to address these risks effectively.