FATF Recommendations
The international standards on combating money laundering, terrorist financing and proliferation financing, set by FATF.
Overview
The 40 FATF Recommendations cover risk assessment, customer due diligence, record-keeping, reporting, beneficial ownership, wire transfers including the Travel Rule, and the powers of authorities. Countries are assessed against them in mutual evaluations.
As an industry standard it binds through regulation that cites it, contracts that require it or audits that test it. The authorities most closely connected to it are FATF.
Check the official sources below for legal scope, applicable dates and exceptions. This entry is an explanatory reference, not legal advice.
Why it matters
National AML laws are largely built from them.
Who it affects
Governments, and through national law, all obliged entities.
Where it sits
Ten linked steps connect where you operate to the proof that you complied.
- 01Jurisdiction
- 02Industry
- 03Activity
- 04Authority
- 05Regulation
- 06Requirement
- 07Guidance
- 08Control
- 09Evidence
- 10Enforcement
Connections
The terms most closely tied to FATF Recommendations. Select one to open it.
What to do about it
- 1Decide whether it applies through regulation, contract, audit or certification.
- 2Run a gap assessment against your current controls.
- 3Crosswalk it to the regulations and contracts that reference it.
- 4Collect evidence continuously for the audit period.
From requirement to evidence.
FATF standards are linked to each national AML regime that implements them.
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