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Iran most probably to remain in money laundering blacklist

Jun 24
Iran remains in money laundering blacklist
Iran remains in money laundering blacklist

By Staff Writer, Iran probe
Friday, 24 June 2016

Previously the head of Iran’s Central Bank had expressed hope the country would be delisted from the money laundering blacklist.

A number of western officials have told the entity overviewing the fight against money laundering across the globe that despite all the efforts and Iran’s latest lobbies, it is expected that Tehran will continue to remain on the black list of high risk states involved in money laundering.

The Financial Action Task Force, established in 1989, controls international anti-money laundering standards and struggles against financial support for terrorism and weapons of mass destruction. Currently a meeting of 37 members of this group in South Korea is holding a session and this entity will announce its decision soon, Reuters reported.

It appears there will be no urgent change in Iran’s status on the black list, a Western official informed of the FATF negotiations told Reuters.

Two other Western officials have told Reuters Iran will most probably remain on the blacklist.

Following the nuclear agreement between Iran and the six world powers, Iranian officials have said despite the pact, Tehran has not been able to enjoy from the agreement’s benefits. Various sanctions against Iran remain intact that are preventing Iran from gaining any access to the U.S. financial system.

The FATF is said to be announcing its updated list of countries involved in money laundering this week.

 

Back in February FATF expressed its grave concern about Iran and North Korea being unable to resolve concerns over providing funds to terrorist groups and other threats that endanger the international financial community’s unity.

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