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FATF also monitors the situations of its members in establishing adequate measures and institutions to fight against money laundering and terrorist financing. FATF also makes sure that it is aware of national-level vulnerabilities of its member states "with the aim of protecting the international financial system from misuse." [9]
The Financial Action Task Force (FATF), also known by its French name, Groupe d'action financière (GAFI), is an intergovernmental organisation founded in 1989 on the initiative of the G7 to develop policies to combat money laundering and to maintain certain interest. [3] In 2001, its mandate was expanded to include terrorism financing.
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Vietnam was added to the watch list of the FATF international financial crime watchdog, which said the nation has nonetheless committed to proving it effectively prevents the financing of the ...
The following is a list of the major existing intergovernmental organizations (IGOs). For a more complete listing, see the Yearbook of International Organizations , [ 1 ] which includes 25,000 international non-governmental organizations (INGOs), excluding for-profit enterprises, about 5,000 IGOs, and lists dormant and dead organizations as ...
Financial Action Task Force (FATF) is an intergovernmental organisation which has established 40 recommendations and functions as a "standard setter" to promote effective measures against money laundering and financing of terrorism, among other things. FATF evaluates its member states to guarantee the established recommendations are being followed.
However, in 2022, the UAE fell into a risk of being named in the Financial Action Task Force (FATF) "grey list". The list defines nations determined to have "strategic deficiencies" in combating money laundering and terrorist financing. [64] On 4 March 2022, FATF placed the UAE in its 'grey' list of countries that are subject to increased ...
It is a permanent monitoring body of the Council of Europe, with 35 member states and jurisdictions out of which 32 are assessed exclusively by MONEYVAL. According to Article 2 of its Statute, evaluations cover member states of the Council of Europe which are not members of the Financial Action Task Force (FATF) (28 states). Through decisions ...