Short answers, pulled from the story.
The Financial Action Task Force emerged from a meeting at the 1989 G7 Summit in Paris. Sixteen nations gathered to address the growing problem of money laundering and created this intergovernmental organization.
The group aimed to maintain certain interest rates and ensure the integrity of the international financial system while developing policies for combating illicit financial flows. Its initial mandate focused solely on money laundering without addressing terrorism financing.
All remaining Non-Cooperative Countries and Territories were delisted by October 2006 after fifteen jurisdictions were initially branded non-cooperative due to harmful practices identified in surveys. Current blacklisted nations include Iran, Myanmar, and North Korea.
The FATF network comprises 187 countries through several associated regional bodies including nine FATF-style regional bodies that serve as associate members. There are also 28 international organizations with FATF Observer status such as the International Monetary Fund and the United Nations.
In October 2018 the FATF updated Recommendation No. 15 to include operations related to virtual assets and urged member countries to ensure providers of virtual asset services are regulated for AML/CFT objectives. Updates occurred again on March 19 and October 2021 to place anti-money laundering obligations on VAs and VASPs globally.