“FATF confirms its call to all its members and urges all jurisdictions to advise their financial institutions to take the risk arising from deficencies in Iran’s anti-money laundering and counter-financing of terrorism regimes into account for enhanced due diligence,” said Stuart Levey, undersecretary for terrorism and financial intelligence, reading from a statement.
The Paris-based Financial Action Task Force, or FATF, is a 34-nation group set up by the Group of Seven industrial nations in 1989 to fight money laundering and terrorist financing. (Reporting by James Cordahi)