EVOLVING PHENOMENON: THE FATF

Home Page
About
Submit A Journal
Submit A Conference
Submit Paper/Book
- Submit a Preprint
- Submit a Book
Contact

Güvenlik Bilimleri Dergisi
Sayı: Kolluk Uygulamaları ve Güvenlik Teknolojileri Özel Sayısı
EVOLVING PHENOMENON: THE FATF

EVOLVING PHENOMENON: THE FATF

Pages : 205-232

View : 91 | Download : 193

Publication Date : 2025-10-27

Article Type : Research Paper

Abstract :The Financial Action Task Force (FATF)’s journey commenced when the drug trade became destructive for the international financial system in the late 1980s. Over the years, thanks in part to its capability to promote cooperation amongst nations, the G7 has played a determining role in setting the FATF’s agenda and acting as a catalyst for revising the FATF’s role. This study aims to examine the evolution of the FATF’s role created by the Group of Seven (G7) in 1989 through to the present day by providing a historical analysis of the evolution of the FATF’s mission. For this purpose, all the FATF’s annual reports and associated documents on its website plus the G7/20 Summit Declarations have been examined up to the present. The study is assessed to make a unique contribution to the literature as it puts forward the 36-year evolution of the FATF. The study reveals that the FATF, created as a measure to address drug related issues by the G7 in July 1989, has made tremendous progress since its establishment. Today the FATF is known as reformist organisation that sets international standards and monitors the compliance with those standards in the fields of anti-money laundering, counter financing of terrorism and proliferation financing (AML/CFT/CPF). The study also argues that the FATF has always been successful in setting standards, owing to its flexibility, adaptability and global network. However, as its mandate expands to global security, the FATF is likely to be in danger of losing sight of the basic building blocks of combating the illicit finance.
Keywords : FATF, G7/20, Karapara Aklamanın Önlenmesi, Terörizmin Finansmanıyla Mücadele, Nükleer Silahların Yayılmasının Finansmanıyla Mücadele

ORIGINAL ARTICLE URL

* There may have been changes in the journal, article,conference, book, preprint etc. informations. Therefore, it would be appropriate to follow the information on the official page of the source. The information here is shared for informational purposes. IAD is not responsible for incorrect or missing information.