Financial Action Task Force (FATF)
Architecture and Mandate
The Financial Action Task Force (FATF) is an intergovernmental standard-setting body for anti-money laundering (AML), counter-terrorist financing (CFT), and counter-proliferation financing (CPF). It was established in 1989 by the G7 Paris Summit to address money laundering. Following the September 11, 2001 attacks, its mandate was expanded in October 2001 to include terrorist financing. In 2012, countering proliferation financing was added.
- Founded: 1989, Paris, at the initiative of the G7.
- Secretariat: Hosted at the OECD headquarters in Paris (administratively; the two organisations are separate).
- Membership: 40 member countries (as of 2023); India joined in 2010.
- Key instruments: FATF 40 Recommendations — the global standard for AML/CFT.
- Monitoring lists:
- Black List (High-Risk Jurisdictions subject to a Call for Action): Countries requiring immediate action — as of early 2025: Iran, Myanmar, North Korea.
- Grey List (Jurisdictions Under Increased Monitoring): Countries with strategic deficiencies working to address them — includes Algeria, Bulgaria, Nigeria, Nepal, among others.
- India's status: Full FATF member since 2010; India hosted the third NMFT conference in November 2022 (New Delhi).
- FATF-Style Regional Bodies (FSRBs): Regional associate members that implement FATF standards in their jurisdictions, e.g., Asia-Pacific Group (APG), Eurasian Group (EAG), MENAFATF.
● Tracked since March 28, 2026 · last seen June 20, 2026 · updates as the daily brief publishes
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