Financial Action Task Force Maintains Blacklisting Iran

JUNE 23, 2017
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 Financial Action Task Force Maintains Blacklisting of Iran

New York, NY - The leaders of United Against Nuclear Iran (UANI) 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: [email protected].

About UANI

UANI is an independent, not-for-profit, non-partisan, advocacy group founded in 2008 by Ambassador Mark D. Wallace, Ambassador Richard Holbrooke, former CIA Director Jim Woolsey and Middle East Expert Ambassador Dennis Ross, that seeks to heighten awareness of the danger the Iranian regime poses to the world.