FATF needs to be endorsed by Leader, says Shamkhani

EghtesadOnline: Supreme Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei should endorse Iran's engagement with the Financial Action Task Force, says the secretary of the Supreme National Security Council.

News ID: ۷۶۹۸۴۷

28 September 2016

'The FATF is a very complicated issue that needs to be technically reviewed by the Supreme National Security Council,' Ali Shamkhani told reporters on Tuesday.

Following a collective decision made by the SNSC experts on the Issue, the Leader is going to have the final say on the issue, Shamkhani said.

When endorsed by the Leader, it is going to be introduced as an act, according to IRNA.

Shamkhani said that compared to certain regional states that tend to be overt and covert advocates of terrorism, Iran has transparent counter-terrorism banking regulations against money laundering,.

He referred to meetings between Iranian officials and the G5+1 top officials on the sidelines of the 71st UN General Assembly meeting and said that Iran has briefed the P5+1 officials about the US disloyalties.

Shamkhani also referred to the US refusal to sell civilian aircrafts to Iran and efforts by Washington to make obstacles on the way of banking and financial relations with the Islamic Republic as issues on the list of US disloyalties.

The official criticized the European countries for following suit and failing to reassure their banks to enter deal with Iran.

The FATF issued a statement on June 24, 2016, suspending Iran in the list of its uncooperative countries. This came as the result of numerous actions taken by the Iranian government, parliament and judiciary in the past few years like adopting laws against financing terrorism and other actions which legally bounded Iran to take action to eliminate shortcomings of the body's existing anti-money laundering policies and its decision to seek assistance with implementation.

In its plenary meeting in South Korea, the body took into account Iran’s implementation of an anti-money laundering law and its membership at the Eurasian Group, a FATF-style regional body.

According to the FATF, Iran will remain on the body's blacklist until the full implementation is complete. Moreover, if it fails to demonstrate “sufficient progress” at the end of the yearlong suspension, the restrictions will be re-imposed.

FATF is under the influence of the US.