FATF Extends Suspension of Countermeasures Against Iran

The Financial Action Task Force  (FATF)  announced in its statement on Friday that it will continue the suspension of active countermeasures against Iran until  October 2019.

On  Feb 24.  The Financial Action Task Force in its meeting in Paris recognized measures taken by Iran in line with addressing its deficiencies and has decided to continue the suspension of active countermeasures until its next meeting.

In June 2016. the FATF welcomed Iran’s high-level political commitment to address its strategic AML CFT deficiencies and suspended countermeasures for a year. Given Iran`s steps in the year after. the organization decided in November 2017 to continue the suspension of countermeasures. 

However. Iran`s deadline to fulfill its action plan with the FATF passed on Jan. 31 with a number of items remaining incomplete. Therefore the organization has now suspended countermeasures once more. advising Iran to fully address its remaining items.

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