AML Glossary

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Learn more about common AML terms, from key regulations to everyday compliance terms—this AML glossary has you covered.
Glossary
FATF (Financial Action Task Force)

FATF (Financial Action Task Force)

The Financial Action Task Force, established in 1989, plays a crucial role in promoting the effective implementation of legal, regulatory, and operational measures to combat money laundering, terrorist financing, and other related threats to the integrity of the international financial system. FATF issues recommendations that are recognised as the global standard for AML/CFT. Understanding FATF recommendations is essential for accountants as they often form the basis of national AML regulations. FATF also conducts regular evaluations of countries' AML/CFT systems, which can impact the risk assessment of clients from different jurisdictions.

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