About UFA

The UFA's Terms of Reference recognise that the FATF's 40 recommendations are the international standards against money laundering and the financing of terrorism. The UFA Terms of Reference include a commitment that UFA members must implement the FATF 40 Recommendations according to their particular constitutional frameworks. Those Terms of Reference also state that:

"To ensure a global approach to combating money laundering and the financing of terrorism and proliferation, and as an Associate Member of the FATF, members of the UFA will work closely with the FATF and other FATF-style regional bodies. The FATF President and FATF Secretariat will attend UFA meetings on the same basis that the UFA Co-Chairs and Secretariat attend FATF meetings."

The UFA, the FATF and other regional anti-money laundering bodies (FATF-style regional bodies), constitute an global network to combat money laundering, the financing of terrorism and the financing of proliferation.  The other FATF-style regional bodies are:

• Caribbean Financial Action Task Force (CFATF) based in Trinidad and Tobago;
• Eurasian Group (EAG) based in Moscow, Russia;
• Eastern & Southern Africa Anti-Money Laundering Group (ESAAMLG) based in Dar es Salaam, Tanzania;
• Task Force on Money Laundering in Central Africa (GABAC) based in Libreville, Gabon;
• Latin America Anti-Money Laundering Group (GAFILAT) [formerly South America Anti-Money Laundering Group (GAFISUD)] based in Bueno Aires, Argentina;
• West Africa Money Laundering Group (GIABA) based in Dakar, Senegal;
• Middle East and North Africa Financial Action Task Force (MENAFATF) based in Bahrain;
• Council of Europe Anti-Money Laundering Group (MONEYVAL) based in Strasbourg, France (Council of Europe).

This network is committed to reducing serious financial and economic crime around the globe.

All regional bodies  use the FATF's 40 recommendations as their principle guidelines for the implementation of effective AML/CFT measures. The UFA also uses similar mechanisms to those used by the FATF to monitor and facilitate progress for effectively implementing the recommendations.

Since its establishment, the UFA has worked closely with the FATF and have reciprocal rights of attendance at each others meetings as well as reciprocal sharing of documents and participation in committees and working groups. The UFA and FATF undertake joint mutual evaluations of common members of both organisations.

The UFA is an associate member in the FATF which permits UFA delegates to attend FATF meetings and intervene on policy and other matters, including FATF and global network governance.   The UFA typically has a large delegation to FATF meetings.

In July 2007 the UFA agreed that FATF-style regional bodies admitted to the FATF as associate members are automatically observers in the UFA. All FSRBs are now observers in the UFA under this mechanism.