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However, through several associated regional bodies, the FATF network comprised 187 countries in total, as of 2012. [15] The FATF also works in close cooperation with several international and regional organisations. [37] Countries are subjected to evaluation by FATF to see that they are upholding laws and regulations enforced by FATF.
The Asia/Pacific Group on Money Laundering (APG) is a FATF-style regional inter-governmental (international) body, the members of which are committed to effectively implementing the international standards against money laundering (Anti–money laundering or AML), combating the financing of terrorism (CFT) and financing the proliferation of weapons of mass destruction.
It is also the FATF Style Regional Body (FSRB) in West Africa and works with states in the region to ensure compliance with international AML/CFT standards. GIABA was established in 2000 and has its headquarters in Dakar , Senegal .
FATF is a policy-making body that brings together legal, financial, and law enforcement experts to achieve national legislation and regulatory AML and CFT reforms. As of 2014 [update] its membership consists of 36 countries and territories and two regional organizations.
The FATF Plenary, the making body, meets three times a year around February, June and October. [37] [38] In June 2021, the FATF stated that Mauritius and Botswana completed their action plans and would be subject to on-site visits before being removed from the list in October 2021.
The G7's illicit finance body, the Financial Action Task Force (FATF), last year removed Cambodia from its "grey list" of countries with flawed anti-money laundering policies, citing improvements ...
A financial intelligence unit (FIU) is a national body or government agency or international organization [1] [2] which collect information on suspicious or unusual financial activity from the financial industry and other entities or professions required to report suspicious transactions, suspected of being money laundering or terrorism financing.
The Financial Action Task Force (FATF) was formed. 16th: 9–11 July 1990 United States: George H. W. Bush: Houston, Texas: 17th: 15–17 July 1991 United Kingdom: John Major: London, England: 18th: 6–8 July 1992 Germany: Helmut Kohl: Munich, Bavaria: The first G7 summit in reunified Germany. 19th: 7–9 July 1993 Japan: Kiichi Miyazawa ...