In which year was the Financial Action Task Force (FATF) established?

The Financial Action Task Force (FATF) is a global intergovernmental body that sets international standards to prevent money laundering and terrorist financing. Knowing its establishment date is fundamental to understanding its history and mandate.

The correct answer is 1989. The Financial Action Task Force (FATF) was established in 1989 by the G7 Summit in Paris. Its initial mandate was to develop and promote policies to combat money laundering. Following the 9/11 attacks, its mandate was expanded to include combating terrorist financing.

• 1980 is incorrect; the FATF was not established that early.
• 1999 and 2004 are also incorrect. By these years, FATF was already well-established and actively working, having expanded its focus to include terrorist financing after 2001.