<P> Many countries are obligated by various international instruments and standards, such as the 1988 United Nations Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances, the 2000 Convention against Transnational Organized Crime, the 2003 United Nations Convention against Corruption, and the recommendations of the 1989 Financial Action Task Force on Money Laundering (FATF) to enact and enforce money laundering laws in an effort to stop narcotics trafficking, international organised crime, and corruption . Mexico, which has faced a significant increase in violent crime, established anti-money laundering controls in 2013 to curb the underlying crime issue . </P> <P> Formed in 1989 by the G7 countries, the Financial Action Task Force on Money Laundering (FATF) is an intergovernmental body whose purpose is to develop and promote an international response to combat money laundering . The FATF Secretariat is housed at the headquarters of the OECD in Paris . In October 2001, FATF expanded its mission to include combating the financing of terrorism . FATF is a policy - making body that brings together legal, financial, and law enforcement experts to achieve national legislation and regulatory AML and CFT reforms . As of 2014 its membership consists of 36 countries and territories and two regional organizations . FATF works in collaboration with a number of international bodies and organizations . These entities have observer status with FATF, which does not entitle them to vote, but permits them full participation in plenary sessions and working groups . </P> <P> FATF has developed 40 recommendations on money laundering and 9 special recommendations regarding terrorist financing . FATF assesses each member country against these recommendations in published reports . Countries seen as not being sufficiently compliant with such recommendations are subjected to financial sanctions . </P> <P> FATF's three primary functions with regard to money laundering are: </P>

When was the term money laundering first used