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Pompeo urges Iran to 'immediately' ratify anti-terror financing bills

Pompeo

U.S. Secretary of State Mike Pompeo has said if Iran was serious about fighting money laundering and terrorism financing, it would have approved laws to make the country in par with international standards.


“If #Iran were serious about combatting terror and adhering to global anti-money laundering and terrorism financing standards…, it would ratify the #PalermoConvention and the Terrorist Financing Convention immediately,” Pompeo said on Friday.


In 2017, the Financial Action Task Force (FATF) demanded Iran reform its legal system and banking practices by following international conventions in order to become eligible for unrestricted international banking relations. FATF has put Iran on its black list, pending legal reforms by Tehran.


However, in early 2019, Iran dragged its legislation for more than a year and altogether froze the reforms. The FATF has given a new deadline to Iran for November.

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