The 38-nation FATF gives Tehran an Octobe­r deadli­ne for improv­ing its contro­lsWASHINGTON: A multinational task force said on Friday it is keeping Iran on a financial blacklist for failing to take action to head off funds flowing to terrorists. The 38-nation Financial Action Task Force (FATF) said it will require more onerous financial oversight if Tehran fails to meet an October deadline for improving its controls. ‘Trump warned Iran via Oman that US attack imminent, called for talks’“The FATF expects Iran to proceed swiftly in the reform path to ensure that it addresses all of the remaining items,” according to the statement, while welcoming “high-level political commitment” to repair the deficiencies. The FATF said steps that Iran still must take include “adequately criminalising terrorist financing,” “identifying and freezing terrorist assets,” and ensuring financial institutions verify wire transfer information. The task force also called upon all members “to require increased supervisory examination for branches and subsidiaries of financial institutions based in Iran.”Read full story

Source: The Express Tribune June 22, 2019 07:41 UTC