<P> The Financial Action Task Force ( on Money Laundering ) ( FATF ) , also known by its French name , Groupe d'action financière ( GAFI ) , is an intergovernmental organization founded in 1989 on the initiative of the G7 to develop policies to combat money laundering . In 2001 its mandate expanded to include terrorism financing . It monitors progress in implementing the FATF Recommendations through `` peer reviews '' ( `` mutual evaluations '' ) of member countries . The FATF Secretariat is housed at the OECD headquarters in Paris . </P>
what is the role of the financial action task force
to develop policies to combat money laundering