The Financial Action Task Force, a Paris-based body that sets standards for anti-money-laundering and counterterrorism financing rules, said Friday it would require increased supervisory exams for financial institutions in Iran if the nation doesn’t enact the necessary measures by June.
Anti-Money-Laundering Watchdog Gives Iran Until June to Tighten Rules
Tehran has passed some legal changes addressing money laundering and terrorism financing, but the bills haven’t come into force. A global anti-money-laundering watchdog again extended a deadline for Iran to complete legal changes. This time it came with a warning.
Observers have closely watched the FATF’s statements on Iran, especially since 2016, when the organization began suspending some of its restrictions as Tehran promised to overhaul its laws.(Suite).