Anti-Money-Laundering Watchdog Puts More Pressure on Iran

October 18, 2019

Author: 

Mengqi Sun

Publication: 

The Wall Street Journal

The Financial Action Task Force (FATF) increased pressure on Iran to meet its anti-money laundering and counterterrorism financing rules, calling for countries to enact enhanced processes on reporting financial transactions and audit requirements of financial institutions with branches or subsidiaries in Iran. FATF also extended a deadline to February 2020 for Iran to adopt certain measures before additional restrictions will be implemented.