Government, parliament given authority to decide about FATF – Iranian MP
By Trend
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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