A pair of U.S. lawmakers are urging the White House to take a hard line against Iran during an upcoming summit of the international anti-money laundering and counterterrorism-financing watchdog.
Financial Action Task Force delegates in a series of closed-door sessions beginning this weekend will consider recommending additional measures to choke off the flow of funds to illegal nuclear, chemical and biological weapons programs, say sources.
Financial institutions in Iran have recently sought guidance from anti-money laundering consultants and attorneys in the United States amid a broader push by the Islamic Republic to reengage with the global banking system.
A regional affiliate of the Financial Action Task Force has granted observer status to Iran following the nations adoption earlier this year of a law meant to prevent the funding of terrorism.
A regional anti-money laundering group will formally grant Iran observer status in June following the nations adoption of a counterterrorist financing law last month, according to an Iranian official.
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