Iran is failing to adhere to FATF standards

Excerpt

In 2016, Iran agreed to complete a 10-item plan to meet FATF standards by January 2018. During this time, Iran remained on the FATF blacklist, but FATF agreed to suspend mandatory countermeasures. The Majlis, Iran’s parliament, announced it would pass four pieces of legislation to implement its plan. Yet more than a year after the deadline, Iran has failed to complete seven of the 10 items.

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Iran’s failure to implement its action plan makes clear that it does not intend to end its role as the world’s leading sponsor of terrorism.

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There should be consequences for Iran’s continuous attempts to circumvent FATF’s standards.

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Some countries may be tempted to put their desire to enter the Iranian market ahead of the safety and integrity of the international financial system. FATF’s credibility relies on its willingness to enforce its standards.

Toby Dershowitz is senior vice president of government relations and strategy at the Foundation for Defense of Democracies, where Saeed Ghasseminejad is a senior advisor on Iran and Serena Frechter is a government relations analyst. FDD is a Washington, DC-based non-partisan research institute focusing on national security and foreign policy. Follow them on @tobydersh,@SGhasseminejad, and @serenafrechter.