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FATF was formed at the 1989 G7 Summit in Paris to combat the growing problem of money laundering. The task force was charged with studying money laundering trends, monitoring legislative, financial and law enforcement activities taken at the national and international level, reporting on compliance, and issuing recommendations and standards to combat money laundering.
Financial Action Task Force Membership Map. According to its official website, there are 39 members of FATF (earlier 40 members, Russia's membership was suspended in Feb 2023) and two Regional Organisations (European Union and Gulf Cooperation Council), representing most financial centers around the world. [10]
The Caribbean Financial Action Task Force (CFATF) is an organization of states and territories of the Caribbean Basin that have agreed to implement common counter-measures against money laundering. CFATF has associate status within the Financial Action Task Force on Money Laundering (FATF).
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Formed in 1989 by the G7 countries, the Financial Action Task Force on Money Laundering (FATF) is an intergovernmental body whose purpose is to develop and promote an international response to combat money laundering. The FATF Secretariat is housed at the headquarters of the OECD in Paris. In October 2001, FATF expanded its mission to include ...
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Website egmontgroup .org The Egmont Group of Financial Intelligence Units is an international organization that facilitates cooperation and intelligence sharing between national financial intelligence units (FIUs) to investigate and prevent money laundering and terrorist financing .
The law was created "to combat illicit activity including tax fraud, money laundering and financing for terrorism by capturing more ownership information for specific U.S. businesses operating in ...