The Financial Action Task Force (FATF), founded in 1989, is an inter-governmental body that sets international standards that aim to prevent money laundering and terrorist financing, and the harm they cause to society.

In 1990, the FATF issued 40 recommendations on the fight against money laundering, that became international standards and the basis for the assessment of policies to prevent money laudering activities (adopted by the UN, the Council of Europe, and the European Union).

Assessment of Portugal

The Portuguese anti-money laundering and combating terrorist financing system was assessed by the FATF in 1994, 1999, 2006, and 2017.

The 2017 Mutual Evaluation Report concluded that "Portugal has a sound and effective regime for fighting money laundering and terrorist financing”, implying a regular follow-up process (only applicable to countries assessed as having a robust system).