Iranian government issues statement regarding FATF decision

Iranian government issues statement regarding FATF decision

BAKU, Azerbaijan, Feb. 27

By Elnur Baghishov - Trend:

The Iranian government issued a statement regarding Financial Action Task Force’s (FATF) decision, Trend reports referring to Tasnim news agency.

According to the statement, Iran's anti-terrorism policy is based on the justice and peace. It is strictly carried out in all spheres, including the fight against terrorism.

“Iran welcomes cooperation with other countries in this sphere and is working to implement the rules adopted by the world countries,” the statement said.

According to the statement, the inclusion of Iran in the black list was the result of some political provocations against Iran. The Iranian government will do its best for approval of two FATF projects (CFT and Palermo).

The objectives of 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 recent FATF meeting, Iran has been warned that it may be added to the list of non-cooperative countries within 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.

The amendments to Counter-Terrorist Financing Act, Anti-Money Laundering Act, Convention against Transnational Organized Crime (Palermo) and International Convention for the Suppression of the Financing of Terrorism (CFT) were prepared by the Iranian government and sent to the parliament.

Although the four conventions have been approved and sent to the Expediency Council of Iran, the CFT and Palermo conventions have not yet been ratified by the Council.

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.

Iran was included in the FATF blacklist in 2007. The anti-Tehran steps have been taken since 2009. Thus, the countries were cautious in their financial and banking transactions with Iran.

Taking of reciprocal steps against Iran through diplomatic steps has been postponed since 2016.

FATF included Iran into the black list again on Feb. 21.

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