Iran International:

Iran has retained its place on the Financial Action Task Force’s(FATF) blacklist, for not respecting international banking and related rules after a meeting in Singapore concluded Friday.

The FATF is a global financial watchdog that leads action to tackle money laundering, terrorist and proliferation financing. The watchdog does not have enforcement powers but describes itself as a monitoring system on how criminals and terrorists raise, use and move funds.

The continuation of the blacklist designation means Tehran is subject to increased monitoring and restrictions.

Toby Dershowitz, the Managing Director of the Foundation for Defense of Democracies (FDD)’s Action, said being on the blacklist has “reputational” and “realistic” consequences like having an impact on investments, thereby deterring other countries from doing business with Iran.

“It sends a message to the whole financial system, that is to banks, to all kinds of financial institutions. You know, the whole economies, that receive a signal that basically says it's not safe to do business with Iran.”

Dershowitz said it means Iran has to constantly find tactics to get around these measures.

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