A member of the Iranian parliament’s national security and foreign policy commission, said Supreme Leader Ayatollah Ali Khamenei has given permission to the government and parliament to decide about Tehran's accession to the Financial Action Task Force (FATF).
After corresponding regularly with the office of the leader on Iran’s accession to FATF, the leader finally tasked the government and parliament with deciding about it, Heshmatollah Falahatpisheh told ISNA on September 10.
The government and parliament could either approve or reject four bills concerning FATF UNTOC (the United Nations Convention against Transnational Organized Crime) and UNODC (United Nations Office on Drugs and Crime) proposed by President Hassan Rouhani’s administration to parliament, he added.
Iran has been trying to implement anti-money laundering (AML) and combating the financing of terrorism (CFT) standards set by the FATF for years, but the group says it is not satisfied with the measures.
On June 30, the Financial Action Task Force (FATF) said Iran had until October to complete reforms that would “bring it into line with global norms or face consequences” that could further deter investors from the country.
“The FATF is disappointed with Iran’s failure to implement its action plan to address its significant AML/CFT deficiencies,” the organization said at the time.
“The FATF urgently expects Iran to proceed swiftly in the reform path to ensure that it addresses all of the remaining items in its action plan ... we expect Iran to enact amendments to its AML and CFT laws ... in full compliance with the FATF standards by October 2018, otherwise the FATF will decide upon appropriate and necessary actions.”
Until Iran carries out measures to address deficiencies, FATF said it would remain concerned and “urges all jurisdictions to continue to advise their financial institutions to apply enhanced due diligence to business relationships and transactions with natural and legal persons from Iran.”
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