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Money-Laundering Standards Body Suspends Some Iran Restrictions
(Wall Street Journal) Samuel Rubenfeld - The Financial Action Task Force (FATF), an international anti-money-laundering standards body, said Friday it would suspend some of its restrictions against Iran for a year to monitor Tehran's progress implementing changes to its regulatory regime. However, Iran will remain on the blacklist until the full implementation is complete, and if Iran fails to demonstrate "sufficient progress" at the end of the year-long suspension, the restrictions will be reimposed, FATF said. The Foundation for Defense of Democracies (FDD) said Friday that the FATF announcement doesn't signal much of a change because its assessment of the risks of Iran's illicit conduct remains the same. "This signals a recognition by the global community that Iran continues to represent a threat to the international financial system," the FDD said.