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FATF Extends Suspension of Iran Restrictions
FATF Extends Suspension of Iran Restrictions

FATF Extends Suspension of Iran Restrictions

FATF Extends Suspension of Iran Restrictions

The Financial Action Task Force has decided to continue the suspension of counter-measures against Iran, “in light of Iran’s demonstration of its political commitment and the relevant steps it has taken in line with its Action Plan.”

“Iran will remain on the FATF Public Statement until the full Action Plan has been completed, until Iran implements the measures required to address the deficiencies identified in the Action Plan,” FATF said in a press release published on its website Friday following its plenary week from 18-23 June in Madrid.

The body said that that it will keep monitoring progress in the implementation of the Action Plan and consider next step. 

“The FATF urges Iran to fully address its AML/CFT deficiencies,” reads the statement. 

Last June, the organization also welcomed measures by Tehran to upgrade its status and ruled that active countermeasures against the country would be suspended, giving it one year to make reforms. 

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