FATF
Organizations & Companies abbreviation · International Organization
| Stands for | Financial Action Task Force |
|---|---|
| Categories | Organizations & Companies |
FATF stands for Financial Action Task Force, an international organization abbreviation.
Intergovernmental body that sets global standards against money laundering and terrorist financing and evaluates countries' compliance, publishing "grey" and "black" lists of jurisdictions with weaknesses. Its secretariat is in Paris.
Example: The country was removed from the FATF grey list after strengthening its laws.
Usage notes
Founded by the G7 in 1989, it issued its widely adopted Forty Recommendations, later expanded to cover terrorist financing after 2001. Grey-listed countries are under increased monitoring, while black-listed ones, such as North Korea and Iran, face calls for countermeasures. Russia's membership was suspended in 2023.
Related abbreviations
More international organization abbreviations
- EEA – European Economic Area
- EEC – European Economic Community
- EFTA – European Free Trade Association
- ESA – European Space Agency
- EU – European Union
- FAO – Food and Agriculture Organization of the United Nations
- FSB – Financial Stability Board
- FVEY – Five Eyes
- G20 – Group of Twenty
- G7 – Group of Seven
- G77 – Group of 77
- G8 – Group of Eight