GAFI - The faft recommendations updated 2026

INTERNATIONAL STANDARDS

ON COMBATING MONEY LAUNDERING

AND THE FINANCING OF

TERRORISM & PROLIFERATION

The FATF Recommendations

Updated June 2026FINANCIAL ACTION TASK FORCE

The Financial Action Task Force (FATF) is an independent inter-governmental body that develops and promotes policies to protect the global financial system against money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction. The FATF Recommendations are recognised as the global anti-money laundering (AML) and counter-terrorist financing (CFT) standard. For more information about the FATF, please visit the website: www.fatf-gafi.org This document and/or any map included herein are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area.

Citing reference: FATF (2012-2026), International Standards on Combating Money Laundering and the Financing of

Terrorism & Proliferation, FATF, Paris, France, www.fatf-gafi.org/en/publications/Fatfrecommendations/Fatf-recommendations.html

© 2012-2026 FATF/OECD. All rights reserved. No reproduction or translation of this publication may be made without prior written permission. Applications for such permission, for all or part of this publication, should be made to the FATF Secretariat, 2 rue André Pascal 75775 Paris Cedex 16, France (fax: +33 1 44 30 61 37 or e-mail: contact@fatf-gafi.org).INTERNATIONAL STANDARDS

ON COMBATING MONEY LAUNDERING

AND THE FINANCING

OF TERRORISM & PROLIFERATION

THE FATF RECOMMENDATIONS

ADOPTED BY THE FATF PLENARY IN FEBRUARY 2012

Updated June 2026THE FATF RECOMMENDATIONS

OF TERRORISM & PROLIFERATION

THE FATF RECOMMENDATIONS

ADOPTED BY THE FATF PLENARY IN FEBRUARY 2012

Updated June 2026THE FATF RECOMMENDATIONS INTERNATIONAL STANDARDS ON COMBATING MONEY LAUNDERING AND THE FINANCING OF TERRORISM & PROLIFERATION

 2012-2026 3

CONTENTS

List of the FATF Recommendations 4

Introduction 7

FATF Recommendations 10

Interpretive Notes 31

Note on the legal basis of requirements on financial institutions and DNFBPs 123

Glossary 125

Table of Acronyms 142

Annex I: FATF Guidance Documents 143

Annex II: Information on Updates made to the FATF Recommendations 144THE FATF RECOMMENDATIONS INTERNATIONAL STANDARDS ON COMBATING MONEY LAUNDERING AND THE FINANCING OF TERRORISM & PROLIFERATION 4  2012-2026

THE FATF RECOMMENDATIONSTHE FATF RECOMMENDATIONS INTERNATIONAL STANDARDS ON COMBATING MONEY LAUNDERING AND THE FINANCING OF TERRORISM & PROLIFERATION

 2012-2026 5

Number

Old Number1 A – AML/CFT POLICIES AND COORDINATION 1 - Assessing risks & applying a risk-based approach 2 R.31 National cooperation and coordination B – MONEY LAUNDERING AND CONFISCATION 3 R.1 & R.2 Money laundering offence 4 R.3 Confiscation and provisional measures C – TERRORIST FINANCING AND FINANCING OF PROLIFERATION 5 SRII Terrorist financing offence 6 SRIII Targeted financial sanctions related to terrorism and terrorist financing

4 R.3 Confiscation and provisional measures C – TERRORIST FINANCING AND FINANCING OF PROLIFERATION 5 SRII Terrorist financing offence 6 SRIII Targeted financial sanctions related to terrorism and terrorist financing 7 Targeted financial sanctions related to proliferation 8 SRVIII Non-profit organisations D – PREVENTIVE MEASURES 9 R.4 Financial institution secrecy laws Customer due diligence and record keeping 10 R.5 Customer due diligence 11 R.10 Record keeping Additional measures for specific customers and activities 12 R.6 Politically exposed persons 13 R.7 Correspondent banking 14 SRVI Money or value transfer services 15 R.8 New technologies 16 SRVII Payment transparency Reliance, Controls and Financial Groups 17 R.9 Reliance on third parties 18 R.15 & R.22 Internal controls and foreign branches and subsidiaries 19 R.21 Higher-risk countries Reporting of suspicious transactions 20 R.13 & SRIV Reporting of suspicious transactions 21 R.14 Tipping-off and confidentiality Designated non-financial Businesses and Professions (DNFBPs) 22 R.12 DNFBPs: Customer due diligence 23 R.16 DNFBPs: Other measures THE FATF RECOMMENDATIONS INTERNATIONAL STANDARDS ON COMBATING MONEY LAUNDERING AND THE FINANCING OF TERRORISM & PROLIFERATION 6  2012-2026

E – TRANSPARENCY AND BENEFICIAL OWNERSHIP OF LEGAL PERSONS AND ARRANGEMENTS 24 R.33 Transparency and beneficial ownership of legal persons 25 R.34 Transparency and beneficial ownership of legal arrangements

F – POWERS AND RESPONSIBILITIES OF COMPETENT AUTHORITIES

AND OTHER INSTITUTIONAL MEASURES Regulation and Supervision 26 R.23 Regulation and supervision of financial institutions 27 R.29 Powers of supervisors

25 R.34 Transparency and beneficial ownership of legal arrangements

F – POWERS AND RESPONSIBILITIES OF COMPETENT AUTHORITIES

AND OTHER INSTITUTIONAL MEASURES Regulation and Supervision 26 R.23 Regulation and supervision of financial institutions 27 R.29 Powers of supervisors 28 R.24 Regulation and supervision of DNFBPs Operational and Law Enforcement 29 R.26 Financial intelligence units 30 R.27 Responsibilities of law enforcement and investigative authorities 31 R.28 Powers of law enforcement and investigative authorities 32 SRIX Cash couriers General Requirements 33 R.32 Statistics 34 R.25 Guidance and feedback Sanctions 35 R.17 Sanctions G – INTERNATIONAL COOPERATION 36 R.35 & SRI International instruments 37 R.36 & SRV Mutual legal assistance 38 R.38 Mutual legal assistance: freezing and confiscation 39 R.39 Extradition 40 R.40 Other forms of international cooperation

1. The ‘old number’ column refers to the corresponding 2003 FATF Recommendation. Recommendations marked with an asterisk have interpretive notes, which should be read in conjunction with the Recommendation.

Version as adopted on 15 February 2012.THE FATF RECOMMENDATIONS INTERNATIONAL STANDARDS ON COMBATING MONEY LAUNDERING AND THE FINANCING OF TERRORISM & PROLIFERATION

 2012-2026 7

INTRODUCTION The Financial Action Task Force (FATF) is an inter -governmental body established in 1989 by the Ministers of its Member jurisdictions. The mandate of the FATF is to set standards and to promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and the financing of proliferation, and other related threats to the integrity of the international financial system. In collaboration with other international stakeholders, the FATF also works t o identify national -level vulnerabilities with the aim of protecting the

effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and the financing of proliferation, and other related threats to the integrity of the international financial system. In collaboration with other international stakeholders, the FATF also works t o identify national -level vulnerabilities with the aim of protecting the international financial system from misuse. The FATF Recommendations set out a comprehensive and consistent framework of measures which countries should implement in order to combat money laundering and terrorist financing, as well as the financing of proliferation of weapons of mass destruction. Countries have diverse legal, administrative and operational frameworks and different financial systems, and so cannot all take identical measures to counter these threats. The FATF Recommendations, therefore, set an international standard, which countries s hould implement through measures adapted to their particular circumstances. The FATF Recommendations set out the essential measures that countries should have in place to:  identify the risks, and develop policies and domestic coordination;  pursue money laundering, terrorist financing and the financing of proliferation;  apply preventive measures for the financial sector and other designated sectors;  establish powers and responsibilities for the competent authorities (e.g., investigative, law enforcement and supervisory authorities) and other institutional measures;  enhance the transparency and availability of beneficial ownership information of legal persons and arrangements; and  facilitate international cooperation. The original FATF Forty Recommendations were drawn up in 1990 as an initiative to combat the misuse of financial systems by persons laundering drug money. In 1996, the Recommendations were revised for the first time to reflect evolving money laundering trends and techniques, and to broaden their scope well beyond drug-money laundering. In October 2001 the FATF expanded its mandate to deal with the issue of the funding of terrorist acts and terrorist organisations, and took the important step of creating the Eight (later expanded to Nine) Special Recommendations on Terrorist Financing. The FATF Recommendations were revised a second time in 2003, and these, together with the Special

deal with the issue of the funding of terrorist acts and terrorist organisations, and took the important step of creating the Eight (later expanded to Nine) Special Recommendations on Terrorist Financing. The FATF Recommendations were revised a second time in 2003, and these, together with the Special Recommendations, have been endorsed by over 180 countries, and are universally recognised as the international standard for anti -money laundering and countering the financing of terrorism (AML/CFT).THE FATF RECOMMENDATIONS INTERNATIONAL STANDARDS ON COMBATING MONEY LAUNDERING AND THE FINANCING OF TERRORISM & PROLIFERATION 8  2012-2026

Following the conclusion of the third round of mutual evaluations of its members, the FATF has reviewed and updated the FATF Recommendations, in close co -operation with the FATF -Style Regional Bodies (FSRBs) and the observer organisations, including the International Monetary Fund, the World Bank and the United Nations. The revisions address new and emerging threats, clarify and strengthen many of the existing obligations, while maintaining the necessary stability and rigour in the Recommendations. The FATF Standards have also been revised to strengthen the requirements for higher risk situations, and to allow countries to take a more focused approach in areas where high risks remain or implementation could be enhanced. Countries should first identif y, assess and understand the risks of money laundering and terrorist finance that they face, and then adopt appropriate measures to mitigate the risk. The risk -based approach allows countries, within the framework of the FATF requirements, to adopt a more flexible set of measures, in order to target their resources more effectively and apply preventive measures that are proportionate to the nature of risks, in order to focus their efforts in the most effective way. Combating terrorist financing is a very significant challenge. An effective AML/CFT system, in general, is important for addressing terrorist financing, and most measures previously focused on terrorist financing are now integrated throughout the Recommendations, therefore obviating the need for the Special Recommendations. However, there are some Recommendations that are unique to terrorist

Combating terrorist financing is a very significant challenge. An effective AML/CFT system, in general, is important for addressing terrorist financing, and most measures previously focused on terrorist financing are now integrated throughout the Recommendations, therefore obviating the need for the Special Recommendations. However, there are some Recommendations that are unique to terrorist financing, which are set out in Section C of the FATF Recommendations. These are: Recommendation 5 (the criminalisation of terrorist financing); Recommendation 6 (targeted financial sanctions related to terrorism & terrorist financing); and Recommendation 8 (measures to prevent the misuse of nonprofit organisations). The proliferation of weapons of mass destruction is a lso a significant security concern, and in 2008 the FATF’s mandate was expanded to include dealing with the financing of proliferation of weapons of mass destruction. To combat this threat, the FATF has adopted a new Recommendation (Recommendation 7) aimed at ensuring consistent and effective implementation of targeted financial sanctions when these are called for by the UN Security Council. The FATF Standards comprise the Recommendations themselves and their Interpretive Notes, together with the applicable definitions in the Glossary. The measures set out in the FATF Standards should be implemented by all members of the FATF and the FSRBs, an d their implementation is assessed rigorously through Mutual Evaluation processes, and through the assessment processes of the International Monetary Fund and the World Bank – on the basis of the FATF’s common assessment methodology. Some Interpretive Note s and definitions in the glossary include examples which illustrate how the requirements could be applied. These examples are not mandatory elements of the FATF Standards, and are included for guidance only. The examples are not intended to be comprehensive, and although they are considered to be helpful indicators, they may not be relevant in all circumstances. The FATF also produces Guidance, Best Practice Papers, and other advice to assist countries with the implementation of the FATF standards. These other documents are not mandatory for assessing compliance with the Standards, but countries may find it valuab le to have regard to them when

in all circumstances. The FATF also produces Guidance, Best Practice Papers, and other advice to assist countries with the implementation of the FATF standards. These other documents are not mandatory for assessing compliance with the Standards, but countries may find it valuab le to have regard to them when considering how best to implement the FATF Standards. A list of current FATF Guidance and Best Practice Papers, which are available on the FATF website, is included as an annex to the Recommendations.THE FATF RECOMMENDATIONS INTERNATIONAL STANDARDS ON COMBATING MONEY LAUNDERING AND THE FINANCING OF TERRORISM & PROLIFERATION

 2012-2026 9

The FATF is committed to maintaining a close and constructive dialogue with the private sector, civil society and other interested parties, as important partners in ensuring the integrity of the financial system. The revision of the Recommendations has involved extensive consultation, and has benefited from comments and suggestions from these stakeholders. Going forward and in accordance with its mandate, the FATF will continue to consider changes to the standards, as appropriate, in light of new information regarding emerging threats and vulnerabilities to the global financial system. The FATF calls upon all countries to implement effective measures to bring their national systems for combating money laundering, terrorist financing and the financing of proliferation into compliance with the revised FATF Recommendations.THE FATF RECOMMENDATIONS INTERNATIONAL STANDARDS ON COMBATING MONEY LAUNDERING AND THE FINANCING OF TERRORISM & PROLIFERATION 10  2012-2026

THE FATF RECOMMENDATIONS

A. AML/CFT POLICIES AND COORDINATION

1. Assessing risks and applying a risk-based approach Countries should identify, assess, and understand the money laundering and terrorist financing risks for the country, and should take action, including designating an authority or mechanism to coordinate actions to assess risks, and apply resources, aimed at ensuring the risks are mitigated effectively. Based on that assessment, countries should apply a risk -based approach

Countries should identify, assess, and understand the money laundering and terrorist financing risks for the country, and should take action, including designating an authority or mechanism to coordinate actions to assess risks, and apply resources, aimed at ensuring the risks are mitigated effectively. Based on that assessment, countries should apply a risk -based approach (RBA) to ensure that measures to prevent or mitigate money laundering and terrorist financing are proportionate to the risks identified. This approach should be an essential foundation to efficient allocation of resources across the anti-money laundering and countering the financing of terrorism (AML/CFT) regime and the implementation of risk -based measures throughout the FATF Recommendati ons. Where countries identify higher risks, they should ensure that their AML/CFT regime adequately addresses such risks. Where countries identify lower risks, they should allow and encourage simplified measures as appropriate. Countries should also identify, assess, and understand the proliferation financing risks for the country. In the context of Recommendation 1, “proliferation financing risk” refers strictly and only to the potential breach, non-implementation or evasion of the targeted financial sanctions obligations referred to in Recommendation 7. Countries should take proportionate action aimed at ensuring that these risks are mitigated effectively, including designating an authority or mechanism to coordinate actions to assess risks, and allocate resources efficiently for this purpose. Where countries identify higher risks, they should ensure that they adequately address such risks. Where countries identify lower risks, they should ensure that the measures applied are proportionate to the level of proliferation financing risk, while still ensuring full implementation of the targeted financial sanctions as required in Recommendation 7. Countries should require financial institutions and designated non -financial businesses and professions (DNFBPs) to identify, assess and take effective and risk -based action to mitigate their money laundering, terrorist financing and proliferation financing risks.

2. National cooperation and coordination Countries should have national AML/CFT/CPF policies, informed by the risks1 identified, which should be regularly reviewed, and should designate an authority or have a coordination or other mechanism that is responsible for such policies.

their money laundering, terrorist financing and proliferation financing risks.

2. National cooperation and coordination Countries should have national AML/CFT/CPF policies, informed by the risks1 identified, which should be regularly reviewed, and should designate an authority or have a coordination or other mechanism that is responsible for such policies.

Countries should ensure that policy -makers, the financial intelligence unit (FIU), law enforcement authorities, supervisors and other relevant competent authorities, at the policymaking and operational levels, have effective mechanisms in place which enable them to cooperate, and, where appropriate, coordinate and exchange information domestically with

1 Proliferation financing risk refers strictly and only to the potential breach, non -implementation or evasion of the targeted financial sanctions obligations referred to in Recommendation 7.THE FATF RECOMMENDATIONS INTERNATIONAL STANDARDS ON COMBATING MONEY LAUNDERING AND THE FINANCING OF TERRORISM & PROLIFERATION  2012-2026 11

each other concerning the development and implementation of policies and activities to combat money laundering, terrorist financing and the financing of proliferation of weapons of mass destruction. This should include cooperation and coordination between relevant authorities to ensure the compatibility of AML/CFT/CPF requirements with Data Protection and Privacy rules and other similar provisions (e.g. data security/localisation).THE FATF RECOMMENDATIONS INTERNATIONAL STANDARDS ON COMBATING MONEY LAUNDERING AND THE FINANCING OF TERRORISM & PROLIFERATION 12  2012-2026

B. MONEY LAUNDERING AND CONFISCATION

3. Money laundering offence Countries should criminalise money laundering on the basis of the Vienna Convention and the Palermo Convention. Countries should apply the crime of money laundering to all serious offences, with a view to including the widest range of predicate offences.

4. Confiscation and provisional measures Countries should ensure that they have policies and operational frameworks that prioritise asset recovery in both the domestic and international context.

Taking into account the Vienna Convention, the Palermo Convention, the United Nations

offences, with a view to including the widest range of predicate offences.

4. Confiscation and provisional measures Countries should ensure that they have policies and operational frameworks that prioritise asset recovery in both the domestic and international context.

Taking into account the Vienna Convention, the Palermo Convention, the United Nations Convention against Corruption, and the Terrorist Financing Convention, countries should have measures, including legislative measures, to enable their competent authorities to: a) identify, trace and evaluate criminal property and property of corresponding value; b) suspend or withhold consent to a transaction; c) take any appropriate investigative measures; d) expeditiously carry out provisional measures, such as freezing and seizing, to prevent any dealing, transfer or disposal of criminal property and property of corresponding value; e) confiscate criminal property and property of corresponding value through convictionbased confiscation; f) confiscate criminal property through non-conviction based confiscation; g) enforce a resulting confiscation order; and h) ensure effective management of property that is frozen, seized or confiscated.THE FATF RECOMMENDATIONS INTERNATIONAL STANDARDS ON COMBATING MONEY LAUNDERING AND THE FINANCING OF TERRORISM & PROLIFERATION  2012-2026 13

C. TERRORIST FINANCING AND FINANCING OF PROLIFERATION

5. Terrorist financing offence Countries should criminalise terrorist financing on the basis of the Terrorist Financing Convention, and should criminalise not only the financing of terrorist acts but also the financing of terrorist organisations and individual terrorists even in the abs ence of a link to a specific terrorist act or acts. Countries should ensure that such offences are designated as money laundering predicate offences.

6. Targeted financial sanctions related to terrorism and terrorist financing Countries should implement targeted financial sanctions regimes to comply with United Nations Security Council resolutions relating to the prevention and suppression of terrorism and terrorist financing. The resolutions require countries to freeze without delay the funds or other assets of, and to ensure that no funds or other assets are made available, directly or

Countries should implement targeted financial sanctions regimes to comply with United Nations Security Council resolutions relating to the prevention and suppression of terrorism and terrorist financing. The resolutions require countries to freeze without delay the funds or other assets of, and to ensure that no funds or other assets are made available, directly or indirectly, to or for the benefit of, any person or entity either (i) designated by, or under the authority of, the United Nations Security Council under Chapter VII of the Charter of the United Nations, including in accordance with resolution 1267 (1999) and its successor resolutions; or (ii) designated by that country pursuant to resolution 1373 (2001).

7. Targeted financial sanctions related to proliferation Countries should implement targeted financial sanctions to comply with United Nations Security Council resolutions relating to the prevention, suppression and disruption of proliferation of weapons of mass destruction and its financing. These resolutions r equire countries to freeze without delay the funds or other assets of, and to ensure that no funds and other assets are made available, directly or indirectly, to or for the benefit of, any person or entity designated by, or under the authority of, the Uni ted Nations Security Council under Chapter VII of the Charter of the United Nations.

8. Non-profit organisations Countries should identify the organisations which fall within the FATF definition of non-profit organisations (NPOs) and assess their terrorist financing risks. Countries should have in place focused, proportionate and risk-based measures, without unduly disrupting or discouraging legitimate NPO activities, in line with the risk-based approach. The purpose of these measures is to protect such NPOs from terrorist financing abuse, including:

(a) by terrorist organisations posing as legitimate entities; (b) by exploiting legitimate entities as conduits for terrorist financing, including for the purpose of escaping asset-freezing measures; and (c) by concealing or obscuring the clandestine diversion of funds intended for legitimate purposes to terrorist organisations.THE FATF RECOMMENDATIONS INTERNATIONAL STANDARDS ON COMBATING MONEY LAUNDERING AND THE FINANCING OF TERRORISM & PROLIFERATION

(c) by concealing or obscuring the clandestine diversion of funds intended for legitimate purposes to terrorist organisations.THE FATF RECOMMENDATIONS INTERNATIONAL STANDARDS ON COMBATING MONEY LAUNDERING AND THE FINANCING OF TERRORISM & PROLIFERATION 14  2012-2026

D. PREVENTIVE MEASURES

9. Financial institution secrecy laws Countries should ensure that financial institution secrecy laws do not inhibit implementation of the FATF Recommendations.

CUSTOMER DUE DILIGENCE AND RECORD-KEEPING

10. Customer due diligence Financial institutions should be prohibited from keeping anonymous accounts or accounts in obviously fictitious names.

Financial institutions should be required to undertake customer due diligence (CDD) measures when: (i) establishing business relations; (ii) carrying out occasional transactions: (i) above the applicable designated threshold (USD/EUR 15,000); or (ii) that are payments or value transfers in the circumstances covered by the Interpretive Note to Recommendation 16; (iii) there is a suspicion of money laundering or terrorist financing; or (iv) the financial institution has doubts about the veracity or adequacy of previously obtained customer identification data. The principle that financial institutions should conduct CDD should be set out in law. Each country may determine how it imposes specific CDD obligations, either through law or enforceable means. The CDD measures to be taken are as follows: (a) Identifying the customer and verifying that customer’s identity using reliable, independent source documents, data or information. (b) Identifying the beneficial owner, and taking reasonable measures to verify the identity of the beneficial owner, such that the financial institution is satisfied that it knows who the beneficial owner is. For legal persons and arrangements this should include financial institutions understanding the ownership and control structure of the customer. (c) Understanding and, as appropriate, obtaining information on the purpose and intended nature of the business relationship. (d) Conducting ongoing due diligence on the business relationship and scrutiny of transactions undertaken throughout the course of that relationship to ensure that the

institutions understanding the ownership and control structure of the customer. (c) Understanding and, as appropriate, obtaining information on the purpose and intended nature of the business relationship. (d) Conducting ongoing due diligence on the business relationship and scrutiny of transactions undertaken throughout the course of that relationship to ensure that the transactions being conducted are consistent with the institution’s knowledge of the customer, their business and risk profile, including, where necessary, the source of funds.THE FATF RECOMMENDATIONS INTERNATIONAL STANDARDS ON COMBATING MONEY LAUNDERING AND THE FINANCING OF TERRORISM & PROLIFERATION  2012-2026 15

Financial institutions should be required to apply each of the CDD measures under (a) to (d) above, but should determine the extent of such measures using a risk-based approach (RBA) in accordance with the Interpretive Notes to this Recommendation and to Recommendation 1. Financial institutions should be required to verify the identity of the customer and beneficial owner before or during the course of establishing a business relationship or conducting transactions for occasional customers. Countries may permit financial institutions to complete the verification as soon as reasonably practicable following the establishment of the relationship, where the money laundering and terrorist financing risks are effectively managed and where this is essential not to interrupt the normal conduct of business. Where the financial institution is unable to comply with the applicable requirements under paragraphs (a) to (d) above (subject to appropriate modification of the extent of the measures on a risk-based approach), it should be required not to open the accou nt, commence business relations or perform the transaction; or should be required to terminate the business relationship; and should consider making a suspicious transactions report in relation to the customer. These requirements should apply to all new customers, although financial institutions should also apply this Recommendation to existing customers on the basis of materiality and risk, and should conduct due diligence on such existing relationships at appropriate times.

11. Record-keeping Financial institutions should be required to maintain, for at least five years, all necessary records on transactions, both domestic and international, to enable them to comply swiftly with

should conduct due diligence on such existing relationships at appropriate times.

11. Record-keeping Financial institutions should be required to maintain, for at least five years, all necessary records on transactions, both domestic and international, to enable them to comply swiftly with information requests