What key aspect does the Financial Action Task Force (FATF) focus on?

The Financial Action Task Force (FATF) primarily focuses on establishing global standards for anti-money laundering (AML) and combating the financing of terrorism (CFT). This organization plays a crucial role in developing policies that require countries to implement effective measures against money laundering and terrorist financing. By setting these standards, the FATF aims to enhance the international framework to combat these serious crimes.

The development of global AML standards ensures that countries have a consistent approach, which facilitates international cooperation in law enforcement and regulatory measures. This is vital as money laundering typically spans multiple jurisdictions, necessitating a uniform response to effectively combat it. Thus, the focus on global standards helps create a cohesive and collaborative environment among countries, making it harder for illicit financial activities to flourish.

In contrast, government expenditure, trade agreements, and financial marketing strategies do not align with the FATF's primary mission and objectives, which center specifically on fighting financial crimes through collaborative international standards and practices.