. . .

We remain committed to fighting money laundering, terrorist financing and other illicit financing involving similar risks to financial markets, and we commend the Financial Action Task Force (FATF) for its ongoing work examining the risks of weapons of mass destruction proliferation finance, enhancing its surveillance of global threats, and deepening its dialogue with the private sector. We call upon the IMF and World Bank to continue their close cooperation with the FATF, and we urge the FATF to collaborate intensively with jurisdictions that have failed to recognize international standards. We look forward to meeting with other FATF Ministers next Spring to refresh the mandate of the FATF.

We particularly commend FATF for taking steps to protect the international financial system from the various money laundering and terrorist financing risks related to Iran. In the wake of two unanimous UN Security Council Resolutions addressing Iran's nuclear and ballistic missile programs, and the FATF's actions identifying the risks of illicit finance associated with Iran, financial institutions are advised to take into account these risks.