Financial services

Financial Action Task Force (FATF)

The Treasury leads the UK’s contribution to international policy development on anti-money laundering and terrorist finance.

This includes the work of the Financial Action Task Force (FATF) – the leading inter-governmental body that sets global standards on tackling money laundering and terrorist finance.

The FATF was established in 1989 in response to mounting concern over money laundering, producing a set of 40 recommendations on action that countries needed to take to combat this crime.

In 2001 the FATF’s remit was expanded to include the development of nine special standards to detect, prevent and suppress the financing of terrorism.

The UK is a founding member of the FATF and played an instrumental role in its development.

Today, the FATF is made up of 34 member countries, all of which are evaluated against the 40 recommendations and nine special recommendations to establish their level of compliance and identify areas where improvement is needed.

Together with a network of associated regional bodies, the member countries meet regularly to review progress being made and robustly address issues of concern.

The Treasury works closely with other countries and through the FATF to tackle new and emerging threats, including proliferation finance to help prevent the development of weapons of mass destruction.

For more information on the FATF, including the full list of member countries and current work schedule, please visit:

Financial Action Task Force website (external website, opens in a new window)

Financial Action Task Force (FATF)

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Anti-money laundering & counter terrorist finance index