FATF DECIDES IRAN MUST FACE FULL FINANCIAL RESTRICTIONS OVER AML FAILURES
February 1st, 2020
THE FINANCIAL Action Task Force (FATF) has said that Iran’s failure to implement AML/CFT controls means that member countries and their financial institutions should consider taking all the precautions mandated by its guidance for high risk ML states.
Its February 19-21 plenary said that Iran still needed to remove an exemption for controls on designated terror groups’ financing when such organisations are “attempting to end foreign occupation, colonialism and racism” – which is taken to include groups opposing Israel. FATF said that Iran was still ...
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