ABSTRACT
Financial Action Task Force (FATF) proposes to continue to strengthen its relationships with regional partners by holding a joint typologies exercise with Financial Action Task Force on Money Laundering in South America in November 2005 and a joint plenary meeting with Eastern and Southern Africa Anti-Money Laundering Group in February 2006. When India and the Republic of Korea are admitted, it will bring the membership to 34 plus two regional bodies which, it is felt, will be the optimum number. FATF first published its Forty Recommendations aimed at governments and financial institutions in 1990. They form a comprehensive regime against money laundering and have been accepted worldwide as one of the most comprehensive bases for tackling money laundering. In its report of February 2000 on this initiative FATF set out the 25 criteria for defining Non-Co-operative Countries and Territories. It also laid down the basic procedures for reviewing countries and territories.
