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Financial
Action Task Force Maintains Blacklisting of Iran
applaud today's
decision by the Financial Action Task Force (FATF) for Iran to remain
on its public statement advising financial institutions to apply
enhanced due diligence to business relationships with Iran given the
risk it poses to the integrity of the global financial system.
Nevertheless, UANI calls on the FATF to continue to reassess its
suspension of counter-measures against Iran, given its chronic
international duplicity in financial markets.
"While we applaud the decision concluding Iran should remain as
a high-risk jurisdiction, this is just one of many steps needed to
mitigate the threat the country poses," said UANI CEO and former U.S.
Ambassador to the United Nations for Management and Reform Mark D.
Wallace. "Myriad risks, including the funding of
terror proxies like Hezbollah, the use of Islamic Revolutionary Guard
Corps front companies to launder money, and cybersecurity hacking,
show that Iran has a long way to go before becoming a responsible and
trustworthy business partner," added Wallace.
The FATF plenary has been a critical and highly anticipated event
for Iran following the country's recent re-election of President
Rouhani, who campaigned on a platform of economic revival. Following
a one-year reprieve from the designation, Iran was expected to
implement an Action Plan to address money laundering and terrorist
financing concerns. UANI has taken a prominent role in the debate,
citing a lack of efforts and tangible results toward
progress in The Wall
Street Journal Europe, in addition to its ongoing
correspondence with key member-states of the FATF.
UANI, a global advocacy group whose education campaign warns
countries and companies of the risks of doing business with Iran, has
corresponded with hundreds of firms and organizations, including
those in key member-states of the FATF, such as Spain, Germany,
France, the United Kingdom, China and the United States.
For more information, or to speak with UANI
leadership, please contact:
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