Financial Action Task Force organization
Overview
The Financial Action Task Force (FATF, also known as GAFI) is an intergovernmental body established in 1989 by the G7 to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other threats to the integrity of the international financial system. It issues a set of recommendations that serve as the global anti-money laundering (AML) and counter-terrorist financing (CTF) framework.
Within the DeFi Intel graph, Financial Action Task Force connects to 8 tracked entities, most strongly to Updated Guidance for a Risk-Based Approach: Virtual Assets and VASPs (Travel Rule), Virtual Assets: Targeted Update on Implementation of FATF Standards on VAs and VASPs (June 2023), Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 8 of 8 total).
| Relation | Connected entity | Confidence |
|---|---|---|
published_by | Updated Guidance for a Risk-Based Approach: Virtual Assets and VASPs (Travel Rule) | 99% |
published_by | Virtual Assets: Targeted Update on Implementation of FATF Standards on VAs and VASPs (June 2023) | 99% |
published_by | Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers | 99% |
published_by | Targeted Update on Implementation of FATF Standards on Virtual Assets and VASPs (June 2022) | 98% |
partnered_with | Financial Stability Board | 97% |
published_by | Virtual Assets: Targeted Update on Implementation of FATF Standards on VAs and VASPs (June 2024) | 97% |
submitted_to | Group of Twenty | 95% |
headquartered_in | France | 85% |
Frequently asked questions
What is Financial Action Task Force?
The Financial Action Task Force (FATF) is an intergovernmental organization that develops and promotes policies and standards to combat money laundering, terrorist financing, and proliferation financing. It was created by the G7 in 1989.
What are the FATF recommendations?
The FATF Recommendations are a comprehensive set of measures that countries are expected to implement in their legal and regulatory systems to combat money laundering and terrorist financing. They cover areas such as customer due diligence, record-keeping, and international cooperation.
How does FATF enforce its standards?
FATF does not have direct enforcement powers but relies on peer reviews through mutual evaluations of member states and publication of lists (grey and black lists) of jurisdictions with strategic AML/CFT deficiencies to encourage compliance.
What is Financial Action Task Force connected to?
In the DeFi Intel knowledge graph, Financial Action Task Force is linked to 8 other tracked entities, most strongly to Updated Guidance for a Risk-Based Approach: Virtual Assets and VASPs (Travel Rule), Virtual Assets: Targeted Update on Implementation of FATF Standards on VAs and VASPs (June 2023), Guidance for a Risk-Based Approach to Virtual Assets and Virtual Asset Service Providers.
Live news feed, full graph, and search.