AML & Compliance Intermediate

FATF (Financial Action Task Force)

💡 In plain English: The global body that sets the international rules for fighting money laundering and terrorist financing — its grey and black lists have major consequences for countries.

Definition

FATF is an intergovernmental organisation that develops and promotes policies to combat money laundering, terrorist financing, and the financing of proliferation of weapons. Its 40 Recommendations are the global AML/CFT standard. Countries on its grey list face increased scrutiny; black list countries face countermeasures.

📌 Real-World Example

The UAE was placed on the FATF grey list in 2022 due to AML framework gaps, and removed in February 2024 after implementing significant reforms.

Related Terms

AML (Anti-Money Laundering)
The rules and systems banks use to stop criminals turning illegal...
KYC (Know Your Customer)
The process banks use to verify who you are, what you do, and...
SAR / STR (Suspicious Activity / Transaction Report)
A confidential report a bank files with regulators when it...
CBUAE (Central Bank of UAE)
The UAE's central bank and primary regulator for banks, exchange...
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⚠️ Educational Content: All definitions and examples on this page are for educational and consultancy reference purposes only. They do not constitute financial, legal, or investment advice. Moneykar is not registered with SEBI, CBUAE, SCA, or any financial regulator. Consult a qualified professional before making financial decisions.

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