Iran at EAG meeting calls on FATF to take trust-building steps
The Iranian deputy economy minister at the 42nd meeting of the Eurasian Group on Combating Money Laundering and Terrorist Financing (EAG) called on the Financial Action Task Force (FATF) to take confidence-building steps towards Iran.
Elaborating on Iran's actions at the Friday plenary session, Head of Iran’s Financial Intelligence Unit (IRIFIU) Hadi Khani expressed Iran’s expectation that, "The FATF will take confidence-building steps in response to the set of the country's actions in the field of combating money laundering and terrorist financing, including the ratification of the Palermo Convention," as reported by IRNA.
Khani presented a report on Iran's software and intelligent infrastructure for processing Suspicious Transaction Reports (STRs), as well as the actions of the country's police in combating money laundering and terrorist financing.
Referring to Iran’s actions as prerequisites for suspending FATF countermeasures, he emphasized, "Recently, aiming to align with international treaties and normalize relations with FATF within the (Eurasian) Group's framework, Iran has ratified the Palermo Convention – a stated prerequisite for suspending countermeasures. This document is now enacted law."
Khani added, "Furthermore, reviewing the CFT Convention and amending domestic AML/CFT (Anti-Money Laundering/Countering Financing of Terrorism) laws to maximally cover international standards are now priorities. Efforts are underway to implement necessary regulatory alignment amendments swiftly, within Iran’s constitutional and legal frameworks."
Outlining Iran’s expectations from FATF, he said, "It is expected that FATF views Iran's decision and the country's extensive efforts in presenting actions, submitting progress reports on the action plan, and other actions in the field of combating money laundering and terrorist financing with a different perspective than before, takes note of them, and takes steps towards mutual confidence-building and the improvement of bilateral interactions."
The deputy economy minister also called on aligned countries who are principal members of FATF and regional groups, especially the Eurasian group and the Middle East and North Africa Financial Action Task Force (MENAFATF), to provide necessary assistance to Iran "for further confidence-building and Iran's exit from the list of non-cooperative countries." He announced Iran's readiness to hold bilateral and multilateral meetings to this end.
He also invited members of the EAG and MENAFATF regional groups to travel to Iran and observe its “actions in combating money laundering and terrorist financing,” in order to redefine cooperation in managing challenges related to FATF recommendations and standards.