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What is FATF

FATF

About FATF

What is FATF

The Financial Action Task Force (FATF) is an inter-governmental body decision-making body. It was established in 1989 during the G7 Summit in Paris to develop policies against money laundering. It is a “policy-making body” which works to generate the political will to bring about national legislative and regulatory reforms in money laundering. It has also started dealing with virtual currencies. The FATF Secretariat is located in Paris.
 
What is the objective of FATF?
 
FATF sets standards and promotes effective implementation of:
 
a. legal, regulatory and operational measures for combating money laundering.
 
b. The FATF works to identify national-level vulnerabilities with the aim of protecting
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Latest Updates on FATF

India to push FATF to put Pakistan back in grey list at next review

India will present a dossier to FATF citing Pakistan's failure to curb terror financing and misuse of funds, pressing for its reclassification under the grey list

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Updated On : 23 May 2025 | 11:50 PM IST

India to make strong case with FATF to put Pakistan back in "grey list"

India will make a strong case with FATF to revert Pakistan to its "grey list" for failure to comply with anti-money laundering and terror financing rules, a government source said.

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Updated On : 23 May 2025 | 2:58 PM IST

Nepal's inclusion in FATF grey list sparks Oppn's call for Oli resignation

Nepal has two years to address these deficiencies and remove itself from the grey list; otherwise, it will face more international transaction hurdles and sanctions

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Updated On : 24 Feb 2025 | 12:44 AM IST

FATF invites Indian online gaming firms to discuss laundering risks

Companies invited for tomorrow's meet include Dream11, Baazi Games, Zupee, WinZO, and others

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Updated On : 12 Feb 2025 | 11:19 PM IST

Iran seeks help from India to shed FATF's blacklisted country tag: Official

India has assured support to Iran on sharing technical knowledge and expert advice through the EAG, he said.

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Updated On : 26 Nov 2024 | 7:46 PM IST

FATF changes grey listing criteria to focus on nations posing greater risk

The global anti-money laundering watchdog noted that the impact of illicit financial flows is felt most strongly by the least developed nations

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Updated On : 18 Oct 2024 | 9:45 AM IST

India seeks FATF oversight for online gaming to curb money laundering risks

If the FATF includes the sector within the AML/CFT framework, gaming platforms would need to adhere to KYC norms and report suspicious transactions, including identifying their beneficial owners

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Updated On : 24 Sep 2024 | 11:05 AM IST

India's gems, jewellery sector vulnerable to money laundering: FATF

The report said there were approximately 1,75,000 DPMS (dealers of precious metals and stones) in the country

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Updated On : 20 Sep 2024 | 10:23 AM IST

India to adopt nuanced approach to deal with at risk NPOs after FATF report

As regards the abuse of NPOs for terror financing, Agarwal said the scope for NPOs being misused is very less in India because there is a cap on cash donations

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Updated On : 19 Sep 2024 | 11:12 PM IST

India should establish clear obligations for domestic PEPs: FATF

Global body says non-profit sector requires protection from terror

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Updated On : 19 Sep 2024 | 11:06 PM IST

ED gets max tip offs for money laundering from media, social sites: FATF

A team of FATF experts drawn from agencies belonging to Russia, UAE, USA, Brazil, United Kingdom, South Africa and Japan conducted the 'on-site' review as they were in India between Nov 6-24, 2023

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Updated On : 19 Sep 2024 | 10:21 PM IST

FATF praises India's PMLA, terror financing; asks to improve prosecution

The report said India implemented such an anti-money laundering (AML) and combating financing of terror (CFT) system that was effective in many respects

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Updated On : 19 Sep 2024 | 5:37 PM IST

India pitches for more info sharing on cross-border payments at FATF

At present, under the Travel Rules of FATF, data relating to the name of the sender, recipient, and the country of origin is recorded in any cross-border financial transactions

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Updated On : 10 Sep 2024 | 11:32 PM IST

Govt pitches for more disclosures on cross-border payments with FATF

Currently, the Travel Rules of Financial Action Task Force under which data relating to name of sender and recipient and the country of origin is recorded in any cross-border financial transactions

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Updated On : 10 Sep 2024 | 6:40 PM IST

Crime watchdog FATF to release mutual evaluation report of India on Sep 19

Financial Action Task Force had in June adopted the mutual evaluation report on India and placed the country in the "regular follow-up" category -- the highest rating given by the global watchdog

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Updated On : 10 Sep 2024 | 5:22 PM IST

Decoded: Buna-Raast connectivity project between Pakistan-Arab world

Raast is Pakistan's first instant payment system, which operates similarly to India's flagship project: Unified Payments Interface (UPI)

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Updated On : 22 Aug 2024 | 6:09 PM IST

FATF calls on India to boost scrutiny of politicians' bank accounts

The recommendation is part of a FATF review of India's anti-money laundering systems that began in 2023

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Updated On : 09 Aug 2024 | 1:17 PM IST

Singapore gets tough on casinos in new measures to check terrorism funding

The new threshold for due diligence checks was among the measures laid out in Singapore's updated National Strategy for Countering the Financing of Terrorism

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Updated On : 01 Jul 2024 | 1:48 PM IST

High level of technical compliance, but follow-up needed: FATF on India

Finmin says it demonstrates the overall stability and integrity of the financial system

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Updated On : 28 Jun 2024 | 11:51 PM IST

'India Inc can cut paperwork to raise overseas funds with good FATF rating'

The global crime watchdog, FATF on Friday adopted mutual evaluation report on India and placed the country in "regular follow-up" category

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Updated On : 28 Jun 2024 | 9:01 PM IST