The FATF is an international organization founded by the G7 to combat the financing of terrorism and money laundering. By creating a set of standards that governments worldwide should adhere to, launderers find it increasingly difficult to find jurisdictions to operate in. 

Cooperation between governments also improves the sharing of information and tracking of launderers. Over 200 jurisdictions have committed to following the FATF Standards. The FATF monitors all participants to make sure they’re sticking to the regulations with regular peer reviews.