International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation - The FATF Recommendations (updated November 2023)

Comparing proposed amendment...


	List of the FATF Recommendations
	Introduction
	The FAFT Recommendations
	A. AML/CFT policies and coordination (Recommendations 1-2)
	B. Money laundering and confiscation (Recommendations 3-4)
	C. Terrorist financing and financing of proliferation (Recommendations 5-8)
	D. Preventive measures (Recommendations 9-23)
	E. Transparency and beneficial ownership of legal persons and arrangements (Recommendations 24-25)
	F. Powers and responsibilities of competent authorities, and other institutional measures (Recommendations 26-35)
	G. International Cooperation (Recommendations 36-40)
	Interpretive Notes to the FATF Recommendations
	Interpretive Note to Recommendation 1 (Assessing ML/TF risk and applying a risk-based approach)
	Interpretive Note to Recommendation 2
	Interpretive Note to recommendation 3 (Money Laundering offence)
	Interpretive Note to recommendations 4 and 38 (Confiscation and provisional measures)
	Interpretive Note to recommendation 5 (Terrorist financing offence)
	Interpretive Note to Recommendation 6 (Targeted Financial sanctions related to terrorism and terrorist financing)
	Interpretive Note to Recommendation 7 (Targeted financial sanctions related to proliferation)
	Interpretive Note to Recommendation 8 (Non-profit organisations)
	Interpretive Note to Recommendation 10 (Customer due Diligence)
	Interpretive Note to Recommendation 12 (Politically exposed persons)
	Interpretive Note to Recommendation 13 (Correspondent banking)
	Interpretive Note to Recommendation 14 (Money or value transfer services)
	Interpretive Note to recommendation 15
	Interpretive Note to Recommendation 16 (wire transfers)
	Interpretive Note to Recommendation 17 (Reliance on third parties)
	Interpretive Note to Recommendation 18 (Internal controls and foreign branches and subsidiaries)
	Interpretive Note to Recommendation 19 (Higher-risk countries)
	Interpretive Note to Recommendation 20 (Reporting of suspicious transactions)
	Interpretive Note to Recommendations 22 and 23 (DNFBPS)
	Interpretive Note to Recommendation 22 (DNFBPS - customer due diligence)
	Interpretive Note to Recommendation 23 (DNFBPS -other measures)
	Interpretive Note to Recommendation 24 (Transparency and beneficial ownership of legal persons)
	Interpretive Note to Recommendation 25 (Transparency and beneficial ownership of legal arrangements)
	Interpretive Note to Recommendation 26 (Regulation and supervision of financial institutions)
	Interpretive Note to Recommendation 28 (Regulation and supervision of DNFBPS)
	Interpretive Note to Recommendation 29 (Financial intelligence UNITS)
	Interpretive Note to Recommendation 30 (Responsibilities of law enforcement and investigative authorities)
	Interpretive Note to recommendation 32 (Cash couriers)
	Interpretive Note to Recommendation 38 (Mutual legal assistance: freezing and confiscation)
	Interpretive Note to Recommendation 40 (other forms of international cooperation)
	Legal basis of requirements on financial institutions and DNFBPS and VASPS
	General Glossary
	Table of Acronyms
	Annex I: FATF Guidance Documents
	Annex II: Information on updates made to the FATF Recommendations