FATF Removes Iran from Recommendation 7 List

The Financial Action Task Force (FATF) has agreed to remove Iran from the list of Recommendation 7, backing down from its previous decision.

Following a letter of protest by Finance and Economic Affairs Minister Ehsan Khandouzi, the president of FATF announced the reforms and changes in its standards related to United Nations Security Council Resolution 2231 to all member countries and the global network of fight against money laundering.

FATF Recommendation 7 is about targeted sanctions related to the proliferation of weapons of mass destruction, which requires countries to take the stated measures, such as confiscation of funds and assets of designated persons, without delay, in line with the resolutions of United Nations Security Council. - Tehran Times