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FATF Scrutinizing Iran’s Efforts to Stop Laundering, Terrorist Financing
By Brian Orsak
printAn international anti-money laundering and counterterrorist financing watchdog is considering whether to take action against Iran for weaknesses identified in the country's AML laws. The Paris-based Financial Action Task Force, a 34-member organization of primarily affluent countries, issued a warning in October identifying Iran's AML laws as a "significant vulnerability" in the global financial system. On Wednesday, the group launched a meeting to consider whether Iran has taken proper action to address those weaknesses. If Iran's response is deemed insufficient, FATF could take further action as soon as Thursday or Friday, when its annual meeting in Paris wraps up, said...
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