Established in 1989, the FATF develops global policies to combat money laundering and terrorist financing.
It promotes international standards to ensure financial systems are not misused for criminal purposes.
Elimination of Other Options:
A: The FATF’s mandate is broader than G7 financial regulation.
B: It provides guidance but does not solely focus on developing financial regulation.
C: Ending safe havens for corrupt funds is part of its mission but secondary to its primary goal of combating money laundering and terrorism.
References:
ICWIM Module 5: Focus on global financial regulation and anti-money laundering efforts.
FATF Mandate (Official Publications): "Standards for combating money laundering, terrorist financing, and proliferation financing."
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