The Financial Action Task Force (FATF) is an intergovernmental organization established in 1989 to combat money laundering and terrorist financing. It sets international standards and promotes measures to ensure that countries effectively implement these standards. FATF conducts regular evaluations of member countries to assess their compliance and effectiveness in fighting financial crimes. FATF's recommendations serve as a framework for countries to develop their own laws and regulations. The organization also identifies high-risk jurisdictions and works with them to improve their financial systems. By fostering global cooperation, FATF aims to protect the integrity of the international financial system.