The Financial Action Task Force (FATF) is an international policy-making and standard-setting
body dedicated to combating money laundering and terrorist financing. Created by the G-7 in
1989 in response to a growing concern about money laundering, the FATF's mission is to monitor
members' progress in implementing necessary measures, review money laundering and terrorist
financing techniques and counter-measures, and promote the adoption and implementation of
appropriate measures globally.
Members of the TFI staff chair the U.S. delegation to the FATF, and it has been an important
organization resource in centralizing efforts to combat money laundering and terrorist
financing. The delegation, which also includes members of the Departments of State and
Justice, the National Security Council, and federal financial regulators, develops U.S.
positions, represent the U.S. at FATF meetings, and implement actions domestically to meet
the U.S. commitment to the FATF.
|
