The Financial Action Task Force has renewed a single "countermeasure" against Iran and threatened to re-impose others if the country does not fully implement global standards against money laundering and terrorist financing by October. Iran has technically been subject to FATF countermeasures since February 2008, when the intergovernmental group instructed nations to require enhanced due diligence on transactions involving Iranian financial institutions, limit their correspondent accounts and bar them from opening new branches overseas. The group suspended those measures in June 2016 amid Iran's plan to upgrade its controls against financial crime. The country has made limited reforms without fully...
The Financial Action Task Force expects to finalize and publish uniform anti-money laundering standards for cryptocurrencies next month amid suspicion that terrorist organizations may increasingly turn to digital assets to fund their operations, the group's president said Wednesday.
The Financial Action Task Force released a statement identifying jurisdictions that have developed action plans to address anti-money laundering and counterterrorist financing deficiencies, and committed to high-level political actions to address the identified deficiencies.
The Financial Action Task Force published an updated public statement regarding jurisdictions with strategic anti-money laundering and counterterrorist financing deficiencies, highlighting that North Korea remains subject to counter-measures to protect the international financial system.