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Regulation & Bodies

FATF (Financial Action Task Force)

FATF (Financial Action Task Force) the Financial Action Task Force, is the inter-governmental body that sets the global standards for combating money laundering, terrorist financing, and proliferation financing through its 40 Recommendations.
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FATF does not regulate firms directly; instead, its Recommendations are implemented into national law by member jurisdictions. Concepts such as the risk-based approach, Customer Due Diligence (Recommendation 10), beneficial ownership (Recommendation 24), and the crypto Travel Rule (Recommendation 16) all originate with FATF.

FATF also evaluates countries and publishes lists of jurisdictions with strategic deficiencies — the 'grey list' (increased monitoring) and 'black list' (high-risk). A customer's link to a listed jurisdiction is a recognised trigger for Enhanced Due Diligence.

Key points

  • Author of the 40 Recommendations adopted worldwide
  • Origin of the risk-based approach and CDD standards
  • Publishes the grey list and black list of jurisdictions
  • Drives EDD obligations tied to high-risk geographies

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End-to-end AML workflows pre-aligned to FATF Recommendations and the frameworks built on them — MAS, FCA, FinCEN, and more.

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Frequently asked

Is FATF a regulator?+
No. FATF sets international standards but does not supervise firms. Its Recommendations are turned into binding law by national regulators such as MAS, the FCA, and FinCEN, which then enforce them.

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