FATF 40 AML/CFT Recommendations

The Financial Action Task Force (FATF) issued the 40 Recommendations as the global standard for combating money laundering, terrorist financing, and proliferation financing. First adopted in 1990 and last revised in 2012, these recommendations provide a comprehensive framework for jurisdictions to develop effective legal, regulatory, and operational measures.The FATF Recommendations are applicable to banks, financial institutions, virtual asset service providers (VASPs), money service businesses, non-financial businesses, and regulatory authorities. They cover a wide range of obligations including risk assessment, customer due diligence (CDD), beneficial ownership transparency, suspicious transaction reporting (STR), and international cooperation. Compliance with these standards is assessed through periodic mutual evaluations.