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FATF Gives Iran Action Plan Four More Months
FATF Gives Iran Action Plan Four More Months
Saturday, June 30, 2018

FATF Gives Iran Action Plan Four More Months

The international group said in view of the Iranian government’s continued efforts to finalize and pass amendments to its AML and CFT laws, FATF decided at its meeting this week to continue the suspension of counter-measures
Saturday, June 30, 2018

FATF Gives Iran Action Plan Four More Months

Finance Desk

The Financial Action Task Force decided once again to suspend its counter-measures against Iran and provide relief to the administration of President Hassan Rouhani, which has been strenuously working to enhance anti-money laundering and countering financing of terrorism measures in the face of opposition from hardline groups.
The international group that monitors money laundering worldwide said on Friday that although it is "disappointed" with Iran’s failure to implement its action plan to address its significant AML/CFT deficiencies, "in view of the Iranian government’s continued efforts to finalize and pass amendments to its AML and CFT laws, FATF decided at its meeting this week to continue the suspension of counter-measures." 
...

In the wake of the current outcome, Iran will bide its time and through political consensus, solve its problems vis-à-vis FATF, believes Fatemeh Mahjourian, an AML expert at Iran's central bank.   
"Through its verdict, the body stood up to its reputation as an impartial body in the face of US pressure and the country considers this a success," Mahjourian told Financial Tribune, adding that this would ease the way for the administration to overcome domestic resistance, as it seeks to complete its action plan with FATF. 
Hossein Gharibi, an expert on legal and international affairs, says that prior to the FATF decision...

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06/30/2018
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