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International Watchdog to Review Iran's Status on Anti-Terror, Money Laundering Laws

(Radio Farda) A Financial Action Task Force (FATF) meeting this week in Paris will review Iran's commitment to international regulations against money laundering and financing terrorism. In October 2019, FATF gave Iran four months "for the sixth and last time" to ratify new legislation relating to these issues. In recent months Iranian hardliners have been pushing to reject the Palermo international convention against funding transnational organized crimes and the convention against financing terrorism. They are concerned that FATF commitments will prevent Iran from sending money to its regional allies such as Hizbullah and Hamas, who are designated as international terrorist groups by the U.S. The FATF warned in October that "If before February 2020, Iran does not enact the Palermo and Terrorist Financing Conventions in line with the FATF standards, then the FATF will fully lift the suspension of counter-measures and call on its members and urge all jurisdictions to apply effective counter-measures." Iranian President Rouhani warned on Sunday that his administration was no longer able to have this legislation ratified.
2020-02-18 00:00:00
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