BAKU, Azerbaijan, Dec. 23
By Elnur Baghishov - Trend:
Iran is expected to be perceived as a world threat, if it doesn't joint the Financial Action Task Force on Money Laundering (FATF), the Deputy Head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Hossein Selahvarzi told ILNA, Trend reports.
Selahvarzi noted that the FATF conventions are the law adopted by the UN Security Council.
If Iran does anything opposing the UN Security Council decision, the country will be immediately accused of various international violations by the Council, the ICCIMA deputy head said.
If Iran is included in the FATF blacklist, it will lose the remaining financial channels, Selahvarzi said, adding that in such case, Russia and China will cut ties with Iran.
Maybe Iran's international mail will stop working, he said, stressing that thus, the FATF's approval has an impact on Iran.
The FATF was established in 1989 on the initiative of the G7 Group to combat money laundering. FATF has 37 members and its secretariat is in Paris.
The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.
During the FATF recent meeting, Iran has been warned that it may be added to the list of non-cooperative countries within the next three months if it does not completely fulfill the FATF requirements. Iran fulfilled 37 of 41 FATF requirements. The remaining four requirements refer to the legislative field.
Although four conventions have been approved and sent to the Expediency Board, the CFT and Palermo conventions have not yet been ratified by the Board.
Iran was included in the FATF blacklist in 2007.