▪️It is an intergovernmental body established in 1989 by G-7 countries in Paris, France.
▪️The objectives of the FATF are to set standards and promote effective implementation of measures for combating: Money laundering; Terrorist financing; and threats to the integrity of the international financial system.
▪️FATF issues a list of ‘Non-Cooperative Countries or Territories’ (NCCTs), commonly called the (FATF Blacklist).
▪️FATF Blacklist - These countries are considered to be uncooperative in international efforts against money laundering and terrorism financing.
▪️FATF Grey List - The Countries added to this list are with deficiencies in anti-money laundering and/or countering the financing of terrorism, for which they have developed an action plan with the FATF.
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