Financial Action Task Force (FATF)
The intergovernmental body that sets international standards for combating money laundering and terrorist financing.
Definition
The Financial Action Task Force is the global standard-setter for anti-money-laundering and counter-terrorist-financing policy. It issues a set of Recommendations that countries are expected to implement, evaluates national regimes through mutual evaluations, and publishes lists identifying jurisdictions with strategic deficiencies, often called grey and black lists. FATF does not regulate individual operators; instead it shapes the national laws and regulators that do, which is why AML rules across very different countries share a common architecture. Casinos are explicitly within scope of its standards as a designated non-financial business, so its guidance flows through to gambling regulation.
Worked example
When FATF places a country on its increased-monitoring list, operators worldwide typically treat customers and transactions connected to that country as higher risk in their risk-based approach.
Why it matters
For learners it explains why AML frameworks look similar across jurisdictions. For professionals, FATF listings and guidance directly feed country risk ratings and screening logic.