Anti-Money Laundering and
Countering the Financing of Terrorism

The Financial Action Task Force (FATF)

Established in 1989, the Financial Action Task Force (FATF) is a strategic inter-governmental body whose head office is located in Paris. Its broad purpose is to develop international AML/CFT standards. New Zealand, together with other nations, including Australia, Canada, the United Kingdom and the United States, are members of the FATF. The International Monetary Fund and the World Bank, in addition to many other non-governmental bodies, work co-operatively with the FATF.

The FATF has issued Forty Recommendations on money laundering and Nine Special Recommendations on Terrorist Financing as well as a number of Interpretative Notes and Best Practice Guidelines. The standards contained in those instruments are designed to assist individual States and other jurisdictions to identify and combat money laundering and terrorist financing methods through domestic implementation of those standards.

New Zealand has been a member of the FATF since its creation and actively supports and participates in its work.