Financial Action Task Force on Money Laundering (FATF)

An inter-governmental body established in 1989 to develop and promote national and international policies to combat money laundering and terrorist financing. The FATF has published 40 recommendations for combating money laundering and nine special recommendations for combating terrorist financing. At the end of September 2005, the FATF comprised representatives from 31 jurisdictions and two regional organisations, covering the world's major financial centres. Hong Kong has been a member of the FATF since 1991 and fully subscribes to the FATF's recommendations in combating money laundering and terrorist financing.