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 enhance the integrity of the global financial system. The FATF evaluates countries' compliance with its recommendations and provides guidance to improve their financial regulations. FATF's work involves assessing risks and vulnerabilities in financial systems, sharing best practices, and fostering international cooperation. Countries that fail to meet FATF standards may face increased scrutiny and sanctions, which can impact their economies. The organization plays a crucial role in maintaining global financial security and stability.