what is the role of the financial action task force
Financial Action Task Force on Money Laundering The Financial Action Task Force (on Money Laundering) (FATF), also known by its French name, Groupe d'action financiÃ¨re (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.
Road Accident Fund • Fuel levy income; • Government grants, paid by National Treasury when there is a pressing need such as an acute cash shortage; • Borrowings/loans, which are an allowed source of funding according to the RAF Act. This option has not been used to date; and • Investment income, acquired from invested funds that occasionally result when the RAF’s operational capacity prevents it from paying out all its funds.