This study investigates the effective implementation of the Financial Action Task Force (FATF) recommendations to combat money laundering and terrorist financing in high-risk countries. The study emphasizes the crucial role of Designated Non-Financial Businesses and Professions (DNFBPs) in maintaining financial integrity and adhering to FATF's 40 recommendations. By analyzing Mutual Evaluation Reports (MER) and Follow-Up Reports (FUR) from 20 high-risk nations, the research evaluates the extent of compliance with FATF's standards. The findings reveal significant shortcomings in several areas, including risk assessment, targeted financial sanctions, and transparency of beneficial ownership. The study concludes that while some progress has been made, substantial improvements are needed to ensure comprehensive compliance with FATF guidelines. The study suggests that high-risk countries adopt more stringent measures to strengthen financial security and mitigate the risks associated with money laundering and terrorist financing. Future research should focus on the role of DNFBPs in implementing AML policies at the country and continent levels.

Keywords: FATF, DNFBPs, MER, FUR, AML Policies.