What is FATF and its NCCT list?
The Financial Action Task Force, known as FATF, is an inter-governmental body that develops and promotes policies to combat money-laundering. FATF publishes a list of non-cooperative countries and territories. Members should consult this list, located at www.fatf-gafi.org to determine whether a customer is from a non-cooperating country or territory and, if so,the Member must determine whether, and what, additional due diligence is necessary for that customer.
