Iranian lawmakers have started the process of introducing legislation that could remedy deficiencies in the country’s action plan with the Paris-based Financial Action Task Force (FATF).
Iran is on the FATF blacklist as a “high-risk jurisdiction”, a status it shares with just one other country, North Korea.
Iran’s parliament has passed amendment bills to the existing Law of Anti-Money Laundering (AML) and Law of Combatting Financing of Terrorism (CFT).
According to the official parliamentary news outlet, 139 of the 225 lawmakers present in the latest open session ratified the general outline of amendments to AML/CFT laws.
Iran’s President Hassan Rouhani submitted the amendments to parliament in November 2017.
Parliament approved Iran’s original AML/CFT law in 2008.
Categories: Trade Based Financial crimes News