An Overview of the FATF Recommendations
The Financial Action Task Force has a list of 40 recommendations to prevent money laundering and terrorist financing. Here are the highlights.
In 1989 the G-7 established the Financial Action Task Force (FATF) in order to help fight the rising tide of international money laundering. Importantly, FATF cannot pass legislation, but instead provides a framework, which the 38 member states try to implement.