Financial Action Task Force

FATF is the global money laundering and terrorist financing watchdog. The objectives of FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system. FATF is a "policy-making body" that works to generate the necessary political will to bring about national legislative and regulatory reforms in these. FATF monitors progress in implementing its Recommendations through "peer reviews" ("mutual evaluations") of member countries. It sets international standards that aim to prevent these illegal activities and the harm they cause to society. FATF secretariat is located at Paris, France. FATF Black List: This list is maintained by FATF and the countries in the list are termed as Non-Cooperative Countries or Territories" (NCCTs).

FATF Grey List: The "Grey List" is a list of "jurisdictions under increased monitoring". These are countries which have made a commitment to address strategic deficiencies regarding money laundering, terrorist financing and proliferation financing in an agreed period and are subject to increased monitoring.