Money-Laundering Standards Body Suspends Some Iran Restrictions

June 24, 2016

Author: 

Samuel Rubenfeld

Publication: 

Wall Street Journal

The Financial Action Task Force (FATF), an international body that monitors money laundering, kept Iran on its blacklist of high-risk countries but suspended some of its restrictions on Iran for one year.  The move came in response to Iran's pledge to adopt a plan to address deficiencies in its anti-money laundering and counter-terrorist financing policies.  If Iran fails to demonstrate progress on these issues at the end of one year, FAFT said it will reimpose the restrictions.