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The FATF welcomes Iran commitment

The FATF welcomes Iran commitment
ID : N-1322 Date : 2018/02/22 - 09:59

(Persia Digest) – The Financial Action Task Force (FATF) has decided to continue its suspension of counter-measures against Iran in light of its commitment to the Action Plan.

The FATF is an intergovernmental organization established in 1989 by the G7 countries.

It is intended to combat money laundering on financial markets worldwide, the results of which are announced to their membership at periodic meetings. This enables countries to assess the risks of investing in target markets and take the necessary steps when working with “high-risk countries”.

Iran was placed on the FATF Public Statement for the first time in 2009, alongside Pakistan, Uzbekistan, and Turkmenistan. But, following the ratification of anti-money laundering and combating the financing of terrorism (AML/CFT) laws in February 2015 by the Iranian Parliament, the special Action Group suspended its counter-measure actions against Iran on 27 July 2016.

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