Friday 22 February 2019

Global watchdog gives #Iran until June to strengthen anti-money laundering rules | Reuters

Global watchdog gives Iran until June to strengthen anti-money laundering rules | Reuters:

Iran has until June to strengthen its anti-money laundering legislation, or financial institutions operating there will face increased international scrutiny, a global watchdog said on Friday.

Last October, the Paris-based Financial Action Task Force (FATF) watchdog had already given Iran until February to complete reforms that would bring it in line with global norms, or face consequences.

The FATF concluded this week at a meeting that “there are still items not completed” and said in a statement it “expects Iran to proceed swiftly in the reform path”.

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