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Tehran Given 4 More Months to Enforce FATF Conditions

The global watchdog expects Iran to proceed swiftly in the reform path to ensure that it addresses all of the remaining items by completing and implementing the necessary AML/CFT reforms
Tehran Given 4 More Months to Enforce FATF Conditions   Tehran Given 4 More Months to Enforce FATF Conditions

The Financial Action Task Force (FATF), the global watchdog for anti-money laundering policies, again extended the suspension of countermeasures against Iran. 
At the end of its October plenary on Friday, the FATF gave Iran until February 2020 to comply with international norms after which it would urge all its members to apply counter-measures.
“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,”   the global watchdog said in a statement published on its website. 
 While acknowledging that Iran has recently adopted the AML-CFT bylaw, which the FATF has not yet reviewed, the FATF expresses its disappointment that the Action Plan remains outstanding. 
The global watchdog expects Iran to proceed swiftly in the reform path to ensure that it addresses all of the remaining items by completing and implementing the necessary AML/CFT reforms.

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