RFERL:

The Financial Action Task Force (FATF) announced on October 19 its decision to continue the suspension of counter-measures against Iran. However, it expressed disappointment that the majority of Tehran's commitments to combat money-laundering and funding terrorism (known as AML/CFT) have not been fulfilled.

While suspending Iran from its blacklist temporarily for another four months, the FATF said it expects Iran to proceed swiftly in reforming its financial regulations and ensure all of the remaining items are addressed by completing and implementing the necessary AML/CFT reforms.

In the meantime, Iran will remain on the FATF Public Statement until the full Action Plan has been completed. According to the FATF, "Until Iran implements the measures required to address the deficiencies identified in the Action Plan, the FATF will remain concerned with the terrorist financing risk emanating from Iran and the threat this poses to the international financial system."

The FATF further warned members and urged jurisdictions "to continue to advise their financial institutions to apply enhanced due diligence, including obtaining information on the reasons for intended transactions, to business relationships and transactions with natural and legal persons from Iran."

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