FUNCTIONS AND TASKS OF THE FATF
3. In order to fulfil its objectives, the FATF carries out the following tasks:
a) Identifying and analysing money laundering, terrorist financing and other threats to the integrity of the financial system, including the methods and trends involved; examining the impact of measures designed to combat misuse of the international financial system; supporting national, regional and global threat and risk assessments;
b) Developing and refining the international standards for combating money laundering and the financing of terrorism and proliferation (the FATF Recommendations);
c) Assessing and monitoring its Members, through ‘peer reviews’ (‘mutual evaluations’) and follow-up processes, to determine the degree of technical compliance, implementation and effectiveness of systems to combat money laundering and the financing of terrorism and proliferation; refining the standard assessment methodology and common procedures for conducting mutual evaluations and evaluation follow-up;
d) Identifying and engaging with high-risk, non co-operative jurisdictions and those with strategic deficiencies in their national regimes, and co-ordinating action to protect the integrity of the financial system against the threat posed by them;
e) Promoting full and effective implementation of the FATF Recommendations by all countries through the global network of FATF-style regional bodies (FSRBs) and international organisations; ensuring a clear understanding of the FATF standards and consistent application of mutual evaluation and follow-up processes throughout the FATF global network and strengthening the capacity of the FSRBs to assess and monitor their member countries;
Detailed mandate pdf link: here