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. The FATF conducts evaluations of member countries to assess their compliance and effectiveness in fighting financial crimes. The organization consists of 39 members, including major economies and regional organizations. It issues recommendations that serve as a framework for countries to develop their own laws and regulations. The FATF also collaborates with other entities, such as the United Nations and World Bank, to enhance global financial security.