Which international body provides guidelines for combating money laundering and terrorist financing?

The Financial Action Task Force (FATF) is the international body that provides guidelines and recommendations for combating money laundering and terrorist financing. Established in 1989, FATF was created to develop policies to combat these illicit activities on a global scale. Its primary focus is to safeguard the global financial system from use by criminals and terrorist organizations. FATF develops a series of recommendations, known as the FATF Recommendations, which are widely acknowledged as the international standard for combating money laundering and terrorist financing.

FATF’s recommendations are designed to promote effective national and international measures to combat these threats, and its role includes assessing countries' compliance with these standards through mutual evaluations. This robust framework has significant influence on national policies and regulations, ensuring member countries work towards establishing appropriate legal and regulatory systems.

While other organizations like the World Bank, International Financial Corporation, and Bank for International Settlements play roles in the financial sector, they do not primarily focus on creating guidelines specifically for the fight against money laundering and terrorist financing as FATF does.