Global financial watchdog FATF reinstates sanctions against Iran while giving Pakistan an extra four months to meet financing norms
Given"Iran's failure to enact the Palermo and Terrorist Financing Conventions in line with the FATF Standards, the FATF fully lifts the suspension of counter-measures," the body said, referring to the UN's 2001 convention against organised crime.A multinational financial watchdog reinstated sanctions against Iran on Friday, saying the Islamic republic has not taken sufficient measures against money laundering and the financing of terrorist groups.
The government of President Hassan Rouhani said the laws were needed to meet demands set by the FATF. The FATF said on Friday that it would keep Iran on a "high risk jurisdictions list," and will decide on next steps "if Iran ratifies the Palermo and Terrorist Financing Conventions, in line with the FATF standards."
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