FATF expected to take confidence-building steps about Iran

Addressing the 42nd meeting of the Eurasian Group (EAG) on Combating Money Laundering and the Financing of Terrorism, being held from May 26 to 30 in Moscow, the deputy finance minister Hadi Khani said, “At this meeting, we gave a presentation on software and intelligent infrastructure for handling suspicious transaction reports (STRs), as well as the actions of our country's police in combating money laundering and terrorist financing, and we tried to share our experiences in these areas with other members.”

According to Tehran Times, he referred to Iran's reports in previous meetings of the EAG, adding that, “With the aim of informing friendly and aligned countries, as well as increasing FATF's understanding of the country's actions in combating money laundering and terrorist financing, Iran has put forward its actions on a broader level of the FATF action plan in close cooperation with the Eurasian Anti-Money Laundering Group (EAG), and will continue this practice within the framework of its internal considerations and standards.”

He also said that recently, with the aim of complying with international treaties and accelerating and facilitating the process of normalizing relations with FATF, and within the framework of this group's statement on accepting the Palermo and CFT conventions as a basis for suspending countermeasures against the Islamic Republic of Iran, Iran has ratified the Palermo Convention, and this document has become an executive law in the country upon the notification of the Iranian president.

Also, the process of reviewing and making decisions regarding the CFT Convention and amending domestic laws and regulations to combat money laundering and terrorist financing with the aim of covering international recommendations and standards to the maximum extent is on the agenda of the relevant authorities within the country. And efforts are being made to implement the necessary reforms within the framework of the country's constitution and domestic laws to bring the country's regulatory infrastructure as close to international standards as possible in the shortest possible time, the official added.

The deputy finance minister further emphasized that the FATF should view and consider Iran's decision and the country's efforts in presenting measures and submitting progress reports on the Action Plan and other Iranian measures in the field of combating money laundering and terrorist financing with a different perspective than before, and take steps to build mutual trust and improve interactions between them.

The five-day EAG summit in Moscow, included several high-level gatherings, such as the Fourth Parliamentary Forum of EAG Member States, a joint conference between regulatory officials and the private sector—supported by EAG and the Middle East and North Africa Financial Action Task Force (MENAFATF)—under the theme “Risk Management in the Age of New Technologies.”

The Eurasian Group (EAG) is a FATF-style regional body established to address money laundering and terrorist financing in the Eurasian region. It was established in 2004 overlooking the Eurasian region and comprises of 9 member-states, being: Belarus, India, Kazakhstan, China, Kyrgyzstan, Russia, Tajikistan, Turkmenistan and Uzbekistan. /Mehr