Financial Action Task Force, the inter-governmental body setting global anti-money-laundering and counter-terrorist-financing standards.
The Financial Action Task Force, established in 1989 and headquartered in Paris, issues 40 Recommendations that form the international standard for AML/CFT. FATF conducts mutual evaluations of member jurisdictions and maintains the public greylist (jurisdictions under increased monitoring) and blacklist (high-risk jurisdictions). Recommendation 15 and the related Interpretive Note set the baseline for virtual asset and VASP regulation.
FATF-aligned obligation requiring VASPs to share originator and beneficiary information for crypto-asset transfers.
Virtual Asset Service Provider as defined by FATF, providing exchange, transfer, custody, or issuance services.
Anti-Money Laundering, the body of law and controls aimed at preventing the integration of illicit funds into the financial system.