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Financial Action Task Force

The Financial Action Task Force (FATF) is a non-permanent intergovernmental policy-making body with a ministerial mandate to develop and promote international standards to combat money laundering and terrorist financing. These standards are known as the FATF (40 + 9) Recommendations. The aim of the FATF is to enhance global compliance and oversee national implementation in order to reduce the risks that money laundering and terrorist financing pose. Progress is reviewed by the members of FATF and FATF-style regional bodies (FSRBs) at plenary sessions, where typology reports on money laundering and terrorist methods, trends, and techniques are also presented and discussed. The impact of these measures on crime is not well understood. In 2011, the FATF reviewed the relevance of the Recommendations in response to the ...

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