FATF Annual Report 2007-2008

This Annual Report provides an overview of the achievements of the Financial Action Task Force (FATF) for 2007-2008. The most important strategic outcome of the year was the approval by FATF Ministers of a revised mandate. The four principal objectives under this revised mandate are: to establish and maintain global standards and measures for countering money laundering and terrorist financing; to foster and assess the implementation of those standards; to identify money laundering and terrorist financing methods and trends; and, to expand co-operation with stakeholders and partners in order to make the system work effectively and globally. The FATF standards have now been endorsed directly by 180 jurisdictions, representing more than 85% of the world. (Read the FATF Annual Report 2007-2008.)