Failure to Join FATF Could Prove Costly

Failure to Join FATF Could Prove Costly
Failure to Join FATF Could Prove Costly

Iran would have to pay a heavy price if it fails to implement standards set by the global anti-money laundering watchdog, says an expert on international affairs, who believes that the Islamic Republic should serve as an example for other countries in combating corruption.  
"Our lack of cooperation with FATF will embolden Washington in its campaign of exerting maximum pressure on Iran and will help tighten the noose of sanctions against the country," Saeed Mohammadi also told the Iranian Diplomacy website in a recent interview. 
The Paris-based Financial Action Task Force has long asked Iran to strengthen its legal framework to guard against money laundering and financing terrorism. 
It said on Oc. 18 it had given Iran a final deadline of February 2020 to comply with international norms after which it would urge all its members to apply countermeasures. 


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