International Standards and the Role of the FATF
Update date: 22 Sep 2025, 20:58
The key body responsible for developing and coordinating international standards in the AML/CFT/CPF sphere is the Financial Action Task Force (FATF). Established in 1989, the FATF has developed the 40 Recommendations, which set forth the requirements necessary for the establishment and effective functioning of a national AML/CFT/CPF system. In addition, the FATF conducts mutual evaluations to assess the effectiveness of countries’ implementation and application of these standards. The results of these evaluations influence a country’s international reputation, opportunities for global cooperation, and participation in financial markets.
