The Financial Action Task Force (FATF)

The Financial Action Task Force (FATF) is an international organization that sets standards to prevent money laundering, terrorist financing, and other financial crimes. It brings together countries to develop and implement effective regulations, encourages cooperation, and assesses progress. The FATF's goal is to protect the global financial system by ensuring that countries have strong anti-crime measures in place. When a country doesn't follow these standards, the FATF may put it on a watchlist, which can impact its access to international financial markets. Essentially, FATF aims to promote transparency and integrity in global finance.